Sambalpur: Rs. 1,200 Crore Fraud Case in Sambalpur; Mastermind Santosh Acharya Arrested by Dhanupali Police
Main Accused Santosh Acharya in Police Custody
Sambalpur: The Sambalpur police have arrested Santosh Acharya, the mastermind behind a massive Rs. 1,200 crore fraud. Officers from the Dhanupali police station took him into custody and later presented him in court.
How the Fraud Took Place
Santosh lured investors with promises of high monthly interest rates, ranging from 3% to 7%. He assured them that their principal amount would be returned at the end of the investment term. More than 400 investors fell for this scheme, depositing over Rs. 1,000 crore into his fraudulent financial organization.
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Company’s Operations and Investor Losses
The company, based in Kuluthkani, operated under a monthly interest scheme. Many people invested their money, hoping for big returns. However, once a significant amount was collected, Santosh disappeared, leaving investors in huge financial trouble.
Police Investigation and Arrest
On January 16, several victims filed complaints at Dhanupali police station, demanding action against Santosh. After receiving multiple complaints, the police launched an extensive search and conducted raids at various locations to track him down. Eventually, they successfully arrested him.
