Odisha Police nab couple for duping investors of Rs 20 cr

Bhubaneswar, Dec 16 (PTI) The Economic Offences Wing (EOW) of Odisha Police has arrested a couple from Uttar Pradesh's Greater Noida on the charge of duping investors of Rs 20 crore in the name of share trading, an official statement said on Tuesday.

The couple, identified as Chandra Sekhar Sahoo and Jharana Sahoo from Tangar village in Anandapur police station in Keonjhar district, were arrested on December 12 and brought to Odisha on transit remand on Tuesday, it said.

The police nabbed them on the basis of a complaint lodged by one Jayant Mishra, an employee with Mahanadi Coalfield Limited.

The accused induced people to invest through lucrative schemes floated by their company for doubling their invested amount within two-and-a-half-years, it said.

They had opened two offices -- one in Talcher's Handidhua and another in Bhubaneswar's Patia – and promised the duped persons that their money was being invested in real estate, retail mart, pearl culture, fish farming and hotel business. They had collected around Rs 20 crore from investors in Odisha, Bengaluru, Madras, Delhi and other places, the statement said.

Chandra Sekhar Sahoo was working as a chartered accountant with MCL, and he later resigned from the job and opened a company in 2021, becoming its MD and making his wife one of the directors.

"Investors' money had also been deposited in the personal accounts of both the arrested persons. During the investigation, incriminating documents such as fake agreements, term deposit receipts of different companies and mobile phones have been seized. Further investigation is on," it added. PTI AAM AAM ACD