Jagannathprasad, Jul 4: Jagannathprasad police on Friday arrested Ranjan Parida, Director and General Manager of the chit fund company Green India, in connection with a Rs 10 crore financial fraud case registered back in 2014.

The arrest was made with assistance from Berhampur Town Police after a surprise raid at Parida's posh residence in Suraj Vihar.

According to the case details, Green India operated an office in Jagannath Prasad area where it allegedly collected crores from local investors in 2014, promising high returns. However, the company abruptly shut operations and Parida disappeared without a trace, leaving depositors stranded.

Based on a long-pending FIR under IPC Sections 420 and 34 for cheating and criminal conspiracy, Parida was apprehended at his residence and brought to Jagannath Prasad Police Station for processing.

Later, the accused was produced in court following his arrest.

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