Odisha Police arrested Chandra Sekhar Sahoo and Jharana Sahoo, a couple from Noida, UP, on December 12 for allegedly defrauding an investor of ₹20 crore in a trading scam. The couple, originally from Tangar village in the Anandapur police station area of Keonjhar district, were brought to Odisha on transit remand Tuesday.
Arrested was made on the basis of a complaint lodged by Jayant Mishra, an employee with Mahanadi Coalfield Limited. As per PTI reports accused used to dupe people under investment scam promising them high returns in two and half years. Operating from offices in Handidhua, Talcher, and Patia, Bhubaneswar, the company defrauded investors of approximately Rs 20 crore by falsely claiming to invest their money in real estate, retail, pearl culture, fish farming, and the hotel industry across Odisha, Bengaluru, Madras, Delhi, and other locations.
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Chandra Sekhar Sahoo, formerly a chartered accountant at MCL, resigned to found a company in 2021. He became its MD and appointed his wife as a director. According to authorities, investor funds were deposited in the personal accounts of both Sahoo and his wife. The investigation has yielded incriminating evidence, including fake agreements, term deposit receipts from various companies, and mobile phones. The investigation is ongoing.