India, Jan. 2 -- The Economic Offences Wing (EOW), Odisha, has arrested the main accused in a major investment fraud case involving more than Rs 40 crore, the agency said today.

The accused, Amit Mandal, a resident of Bankura district in West Bengal, was arrested on December 31 and was produced before a local court before being brought to Odisha on transit remand.

Case registered on the investor's complaint The case was registered following a complaint by Sushant Kumar Das of Khordha district. In his complaint, Das alleged that Mandal and his associates induced him to invest in share trading by promising monthly returns ranging from 3.5 per cent to 7 per cent.

To gain trust, the accused reportedly executed agreements and issued post-da...