Bhubaneswar: The Economic Offences Wing (EOW) of Crime Branch today arrested Brajasundar Mishra, director of chit fund firm Land India Real Estate, on charges of cheating scores of depositors to the tune of Rs 10 crore.
Sources said Mishra was luring investors with attractive schemes to provide land and plot at cheaper rates. The company was collecting money from depositors through its offices in Polasara in Ganjam district.
He was on the run since 2013 after depositors demanded their money back from the company when they did not get any plot or land as promised, the sources added.
Crime Branch DIG Sanjay Kumar Singh told mediapersons that the EOW would seek a seven-day remand of Mishra when he would be produced in a local court tomorrow.