Odisha Police Nab Alleged Fraudster in Rs 50 Crore Investment Scheme

Odisha Police have arrested Madhusudan Baral for allegedly deceiving investors out of Rs 50 crore by promising high returns. Baral's agency was reported by a disgruntled investor, leading to an investigation that uncovered widespread fraud. Police seized electronic devices and documents pertinent to the case.

In a significant bust, Odisha Police have apprehended Madhusudan Baral, accused of orchestrating a massive investment fraud worth Rs 50 crore. The 36-year-old suspect allegedly lured investors with promises of high returns.

Baral, a resident of the Khetarajpur police station area in Sambalpur district, was taken into custody following a formal complaint at the Sambalpur Sadar police station. The complaint was lodged by an investor who, along with 47 others, had been duped by Baral's agency.

Sambalpur SP Mukesh Kumar Bhamoo revealed that preliminary investigations indicated Baral collected most funds in cash. Police have seized crucial evidence including a mobile phone and six computers, as inquiries continue.

(With inputs from agencies.)