Odisha Police Arrest Fugitive in High-Stakes Investment Scam

Rajkishore Ray, accused of defrauding 1,061 investors of over Rs 1 crore, has been arrested by Odisha Police's Economic Offences Wing. After violating bail conditions, Ray absconded, changing locations frequently. He was apprehended in Ahmedabad and brought back to Odisha on transit remand.

The Odisha Police's Economic Offences Wing has successfully apprehended Rajkishore Ray, a fraudster who swindled over Rs 1 crore from 1,061 investors by promising high returns on bogus financial products. Ray, originally from Jagatsinghpur district in Odisha, was arrested in Ahmedabad, Gujarat.

Ray, who earlier faced charges in 2019, was on the run after violating bail conditions set by the High Court of Orissa. Despite initially paying Rs 10 lakh as per the bail agreement, he failed to honor further payment conditions, leading him to go underground, frequently changing addresses across different states.

His arrest on February 22 marks a significant breakthrough for the EOW, who had been tracking his movements relentlessly. Ray was found in Ahmedabad and is now facing legal proceedings after being moved back to Odisha on transit remand.