Accused in fraud worth Rs25 cr arrested

Berhampur: In what could be another big public money fraud in the state, Mumbai police arrested one Chandrakant Bharat Goel, accused in fraud estimated to the tune of Rs 25 crore and produced him before the Berhampur SDJM court on Friday.

According to sources, the incident came to light when the accused failed to refund money to nearly 225 depositors and their 350 cheqes got bounced subsequently. On receipt of complaints of several depositors, Berhampur police sought help of Mumbai police and arrested Goel from Mumbai.

Sources said, the accused had opened a public money investing company – Sri RamKrishna Electro Control Limited in Berhampur and was receiving deposits from public. The accused had won public belief by assuring high interest rates and disbursing dividend cheques.