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Bhubaneswar: A special court today granted conditional bail to the managing director of a real estate firm who was arrested on charges of duping investors of Rs 15 crore in Khurda district after promising them prime land on the outskirts of Bhubaneswar.
Adjudicating the bail plea, the court asked accused Gayadhar Jena to deposit a bank guarantee of Rs 8 crore, and submit a bond of Rs 30,000 and two sureties.
In March this year, the Economic Offences Wing (EOW) of the Crime Branch arrested Jena from his Jayadurga Nagar office in the city after a surprise raid. The company also has offices in the Patia area of the city as well as in Khurda.
Sources said Saheed Nagar police had arrested Jena in June 2013 in a similar case. He was in jail since then. There are two cases pending against Jena in Saheed Nagar police station, in one of which 30 people had accused him of defrauding them.
