Reported by Santosh Jagdev
Bhubaneswar, Mar 16:
A five-member team of the Economic Offences Wing (EOW) of Maharashtra Crime Branch today arrested the director of Micro Finance Limited (MFL) Baikuntha Nath Patnaik from Mancheswar area here on charges of cheating the public in the western state.
The EOW team will take the accused to Maharashtra for interrogation in the case after producing him in a local court here.
Patnaik will spend the night in Mancheswar police custody today, police sources said.
Acting on a tip-off that the accused was staying in the city, the Maharashtra CB team today raided his hideout and nabbed him from Mancheswar area.
According to CB officials, Baikunthanath has been arrested for cheating an investor Mangal Singh of Chalisgaon area in Maharashtra state of Rs 10.34 lakh promising to provide him hefty returns on his money. He had collected the money from Singh through a scheme from the Chalisgaon branch of MFL where he was a director.
A cheating case was registered at the EOW of the Maharashtra CB in December last year after the accused failed to return Singh’s deposited amount along with interest.
On March 30 last year, the EOW of Odisha CB had arrested Baikunthanath for cheating huge money from the state investors.
Late,r the accused was freed from the Jharpada jail after a court in the city granted him a bail.