Reported by Santosh Jagdev
Bhubaneswar, Jun 19:
The Economic Offences Wing (EOW) of the Odisha Crime Branch arrested a senior official of Salara Realcon Private Ltd here today.
Sources said Kailash Muduli, marketing director of Salara Realcon Private Ltd, had misappropriated Rs 20 lakh from the company account.
EOW official said an amount of Rs 20 lakh had been transferred to Muduli’s personal account from the company’s account. “The amount transferred to his personal account was money deposited by investors,” said the official.
Besides, the accused had taken Rs 10 lakh as cash from the company to manage the business of the company.
Muduli is the third person to be arrested in the cheating case registered by the EOW.
Earlier, the state investigating agency had arrested the company’s managing director Gayadhar Jena and his partner Nibas Jena in the case.
Following a complaint lodged by 250 people in Khordha district, who had alleged that the company had duped Rs 15 crore from them earlier, a team of EOW officials arrested Muduli from Bhubaneswar after conducting a surprise raid at his residence.
In the complaint, the company had been accused of failing to keep its promise of providing the investors prime land with patta on the outskirts of the Capital city after collecting huge deposits from them.