India, Jan. 3 -- The Odisha Police has arrested a man in West Bengal's Bankura district on charges that he and his associates conned people into investing Rs.120 crore for high returns before he disappeared, the Economic Offences Wing of the state police said on Friday.

EOW arrested Amit Mandal, a resident of Bankura district, on December 31 in connection with the elaborate fraud. He was produced before a Bengal court and brought to Odisha on a transit remand.

The racket started to unravel after Sushant Kumar Das of Khordha district filed a complaint alleging that Mandal and his associates lured him into investing Rs.8.5 lakh between 2022 and 2024. To win his confidence, the accused signed agreements and issued post-dated cheques.

"The...