Jaipur: In an inter-state operation, the Special Operations Group (SOG) of the Rajasthan Police today arrested five persons, including the CMD of West Bengal-based company, for allegedly duping 25,000 people in the state, officials said.
The five arrested belong to Pincon Spirits Limited and they had duped people, who invested money in company's debenture, of Rs 56 crore, SOG ADG Umesh Mishra told media.
The accused had siphoned off Rs 39 crore through shell companies, he said.
CMD Manoranjan Roy and director Vinay Singh were arrested from Bengaluru. Accounts head of the company Raghu Shetty, his assistant, and director Hari Singh were arrested from Varanasi and Agra respectively, Mishra said.
He said that the company has its regional office in Ajmer.
Mishra said the accused were brought to Jaipur and subjected to medical examination. They will be produced before the court and thoroughly interrogated, he added.
A case was registered against the accused under various sections of the IPC and the IT Act.