MALKANGIRI: A 43-year-old man was arrested from Assam for allegedly duping an investor to the tune of Rs 80 lakh on the pretext of an investment scheme in the share market.
Accused Debajit Tripathy of VSS Nagar under Bargarh Town police limits was arrested from Assam on April 30 and produced in court here on Sunday.
Police said Tripathy impersonated as a commodity trader and lured K Jitendra Patra, a fruit vendor from Talasahi in Malkangiri town with promises of doubling his money with high interest within one year.
Patra first met Tripathy in 2017 as the accused frequently visited his fruit shop. The accused identified himself as a commodity trader from Cuttack and persuaded Patra to invest in trading. Initially, Patra invested a small amount and received some returns.
Then he invested Rs 40 lakh in different phases but there was no return. Following this, Patra demanded his money back. But the accused said his trading account had been blocked and demanded Rs 22 lakh to reopen it. After Patra provided the money, the accused again asked for Rs 10 lakh. After getting the amount, the accused fled.
Five cheating cases were registered against Tripathy in Malkangiri police station.