Deb Kumar Panda, managing director of Vista Management Services Ltd, a chit fund company, was arrested from Bhubaneswar Railway Station on Sunday by the crime branch team while leaving for Vizag for a flight to Singapore.
EOW of the crime branch arrested Deb Kumar Panda, managing director of the chit fund company, for duping depositors of about Rs.50 crore, superintendent of police of EOW Rajendra Patnaik told reporters in here on Sunday.
Panda, who began operating the chit fund company in 2008-2009 in the state, is alleged to have duped depositors of about Rs.50 crore by floating various schemes and promising lucrative returns.