Bhubaneswar, Feb. 24 -- The Economic Offences Wing (EOW), Odisha on Monday informed to have arrested one Dhanajaya Sahoo of Bhadrak district from Hyderabad in case of fraud amounting to Rs 5 crore. Sahoo is accused of duping people on the pretext of doubling the invested amount in 10 months.

Sahoo has been arrested under several sections including the Banning of Unregulated Deposit Schemes. Following the arrest, Sahoo was brought to Bhubaneswar on transit remand after production in the Court of Additional Chief Judicial Magistrate in Hyderabad.

EOW arrested Sahoo based on the written report of one Govinda Chandra Sahoo of Vill- Bichitrapur of Jajpur district. The complainant alleged that Sahoo duped him and many others by illegally taki...