Jagatsinghpur, 4 September: Two persons, including a woman, were arrested on the charge of defrauding people by floating chit fund companies and promising high returns .
Identifying herself as an agent of a women based chit fund company, Ms Ahalya Mohanty had lured residents, especially woman, of Fethapur village with promise of 27 per cent interest on deposits and was able to mobilize three lakh from them. Following complaints by villagers, Mrs was arrested yesterday.
In another incident, Sarat Chandra Sahu who is said to be a lawyer was arrested on charges of floating a chit fund company named Shubam Real Estate Investment Ltd.
He was arrested aftercomplaints from villagers when he failed to come good on his promise to double money in four years. sns