Home CRIME Builder,Chit Fund MD arrested on charges of fraud

Builder,Chit Fund MD arrested on charges of fraud


Report by Santosh Jagdev

Bhubaneswar, Aug-7:

Rabindra Senapati (40), managing director of Sainath Infratech Pvt. Ltd was arrested by the Commissionerate Police here  Wednesday on charges of duping one of his customers.

According to the IIC, Chandrasekharpur,  Rabi Satpathy, Rabindra Senapati who was running his office at Prachi Enclave in Saileshree Vihar had cheated one of his customers, Laxminarayan Dash (70) of Neeladri Vihar after collecting a hefty sum of Rs 1 crore for a large plot of land from him.

Two years after paying the amount, Dash realized he had been taken for a ride and lodged an FIR against Senapati at the Chandrasekharpur  police station here following which Sainath Infratech office was raided and Senapati, taken into custody.

The police are investigating into the builder’s past transactions and his links.

In a similar case of alleged fraud the Saheed Nagar police  arrested Hemant Kumar Maharana (44),  managing director of the city-based chit fund firm Mourya Infrastructure and Properties Pvt Ltd in Acharya Vihar here Wednesday.

The victim Ashutosh Tripathy of Nemala in Cuttack district had lodged a complaint against Maharana at the Saheed Nagar police station alleging he had deposited Rs 2 lakh two years ago with the firm on the promise of hefty returns. He was forced to file a complaint with the police after he failed to get even the promised interest amount on his deposit .

Maharana was arrested from Saheed Nagar on the basis of the complaint, police said