Nayagarh: The Nayagarh district police on Thursday arrested K Patnaik, branch manager of SLB chit fund firm and Guruprasad Ray, area manager of the same firm for allegedly duping investors to the tune of Rs 70 lakh. They were sent to jail after their bail plea was dismissed in the court.
The company had started its business at Ghaduala in Nayagarh district in 2011. Branch manager K Patnaik had recruited many agents in the company by promising them to give ‘good percent’. When the company became unable to return money to the investors even after maturity, the investors started complaining to the agents. Soon, the company was closed and the agents came in depression. They finally lodged a complain at Nayagarh police station after which the police started investigation by detaining the two managers of the chit fund firm.
Finally, the duo was arrested on Thursday.