Home CRIME Yet another chit fund company head arrested

Yet another chit fund company head arrested


OST Crime Bureau

Bhubaneswar, Dec 12:

The Commissionerate Police on Thursday arrested and forwarded former Managing Director of a city-based chit fund company Niranjan Pradhan, who was detained yesterday, to the local court here on charges of duping investors.

Pradhan had been running his company, Capital Credit, near Rabindra Mandap under the Kharavela Nagar Police limits here.

During interrogation, Pradhan confessed to his crime, said officer-in-charge of Kharavel Nagar police station Manoj Samant adding that the police have collected some documents from the accused which would help prove him guilty.

Pradhan was arrested after Jayadev Mishra, an investor who had deposited Rs 3 lakh in his company in 2003 to get his money ‘doubled’, lodged a complaint with the local police station yesterday against him after the latter refused to return his money.