Bhubaneswar: The Crime Branch of Odisha Police on Wednesday arrested the CMD of Seashore Group, Prasant Das from Mumbai on charge of duping small investors of crores of rupees, a senior police officer said.
Das, who was on the run after several cases were made against him and his company, had come to meet someone at the Fort area in Mumbai when the special team of the Crime Branch nabbed him.
"Das, for some time was staying at Silvassa, the capital of Dadra and Nagar Haveli," the officer said adding that the Crime Branch arrested him in connection with a cheating case made at Semiliguda Police Station in Koraput district.
While informing media about the most wanted ponzi company CMD, Crime Branch ADG BK Sharma said Das would be produced in a local court of Mumbai tomorrow.
The CB sleuths had been camping in Mumbai for the past seven days to nab Das, who had been absconding.
The Economic Offences Wing (EOW) of CB had in July last year booked Das and five other directors of the company for allegedly siphoning off public money to the tune of nearly Rs 500 crore, sources said.
Though a large number of cases were made against Das, the CB was unable to arrest him in view of a bail granted by the High Court. The investigating agency has moved the apex court seeking cancellation of Das` bail.