The police on Saturday cracked down on the offices of eight chit fund companies in Jajpur district and arrested 23 officials and agents of these companies.
The police also seized several bank documents, computers and other incriminating files.
“Police raided the offices of the fake finance companies at Bari, Jajpur Road, Jajpur Town and Chandikhol and arrested Amruta Pradhan, manager of Rose Valley company, at Jajpur Road, Pramod Mohanty, manager of Rose Valley at Jajpur Town and Subash lenka of Kolkata Wire company, among others,” the police sources said.
All the arrested persons were booked under Sections 420, 120(B) and 34 of the Indian Penal Code . They were produced in the courts at Jajpur Town, Jajpur Road and Chandikhol.
The courts rejected their bail applications and remanded them to jail custody, said Jajpur Superintendent of Police Dr Deepak Kumar.