Police on Sunday arrested the Managing Director of chit fund company Binodini Projects Limited, Dhiren Kumar Swain on charges of duping depositors of more than Rs 68.83 lakh in Odisha and outside the State.
Swain was arrested under different sections of IPC and Section 6 of the OPID Act 2011 and forwarded to court.Promising higher returns Swain collected money from depositors through branch offices of Binodini Projects Limited in Ganjam district and Surat of Gujarat in 2010.
However, after repeated follow ups when investors did not get their money they lodged a police complaint at Baidyanathpur police station in March 2018 against company and its managing director.
