Bandhan chit fund chief arrested from Cuttack

Bolangir: Police today nabbed on the run chief of chit fund firm Bandhan Financial Services Devi Prasad Maharana from Cuttack.

Maharana, a resident of Chhatia in Jajpur district, was brought to Bolangir and will be produced before court soon.

"They had mentioned wrong mobile number and fake identity proof in all seized documents. Even the accused was not staying in his village. So, it was difficult to track the mobile number. We tracked various links to the given mobile number which helped us to trace him," Bolangir SDPO said.

Maharana however pleaded innocence and said he was trapped in a false case.

Police had arrested two of the company officials in June for allegedly duping innocent women of crores of rupees.

The accused are Dilip Baral, a native of Cuttack and Ajay Parida of Jajpur.

Police had also seized some cash, mobile phones and vehicles from their possession.

Notably, hundreds of women of Bolangir town have been duped of more than Rs 1 crore by the ponzi firm on the pretext of providing them loan at low interest rate.