Micro Finance Director arrested by Maharashtra EOW in Cheating Case

Bhubaneswar, March 17: The Economic Offences Wing (EOW) of Maharashtra Crime Branch has arrested the Micro Finance Limited director Baikuntha Nath Patnaik for cheating a local investor in the state.

Patnaik was arrested yesterday from Mancheswar area. He is accused of cheating an investor in Maharashtra collecting Rs 10.34 lakh from him with a promise of high returns on his deposits. He took money from the victim through a scheme launched by the Micro Finance Limited in Chalisgaon area in the western state.

He will be taken to Maharashtra where he will be produced in a local court and later he will be interrogated.

Earlier, Patnaik was arrested by the Economic Offences Wing of Odisha Crime Branch in connection with the chit fund scam. Later, he was granted bail.

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