Bhubaneswar, Aug. 9 -- Saheed Nagar Police in Bhubaneswar on Sunday arrested a man in connection with an alleged Rs 29 lakh fraud involving more than 15 people.

The accused, identified as Niranjan Acharya of Saheed Nagar, allegedly cheated victims by promising high returns through chit-fund schemes, land deals and other lucrative investment opportunities.

According to reports, Acharya and his wife allegedly operated together and targeted people by luring them with promises of quick and substantial financial gains. The couple reportedly collected money from several individuals through a private company and later failed to fulfill their commitments.

Police further alleged that Acharya used to introduce himself as an officer of the Odisha...