Bhubaneswar: The head of a real estate firm was arrested here Sunday for duping hundreds of investors of more than Rs.10 crore, an official said.

The Economic Offences Wing of the police crime branch arrested 50-year-old Prakash Chandra Panda, the managing director of the city-based Siridi Sai Real Estate, Deputy Inspector General of Police Rajesh Kumar told IANS.

Panda collected money from people through his agents and employees by setting up offices in various towns in the state.

He promised flats and plots in Bhubaneswar, Puri and Cuttack, the police officer said.

Source: IANS