Ponzi firm staff abducts employer’s son in Odisha, arrested

Odisha Sun Times Bureau
Bhubaneswar, May 31:

Twin City Commissionerate police today rescued a youth from the clutches of his abductors in Odisha’s Mayurbhanj district and arrested the persons involved including the prime accused in the case.

According to reports, unidentified miscreants had kidnapped the victim from Khandagiri area in the capital city on last Wednesday (May 25) after which the Commissionerate police formed a special squad to trace the missing youth.

Acting on specific inputs, the cops traced the victim– Syed Muzaffar Ali– to Krushnachandrapur under Betnoti area in Mayurbhanj district. The abductors had kept him in a lodge in the area.

The members of the special squad zeroed in on the lodge and arrested the prime accused Irshad Ali and four of his accomplices.

According to sources, the accused was working in a chit fund firm where the victim’s father—Syed Mujahid Ali—was the managing director of the company.

After Mujahid’s demise, Irshad took over the operations of the company headquartered in Balasore.

However, the office bearers had a tough time when the investors demanded their money back after the chit fund scam broke. Under pressure from the people to refund their investments, Irshad allegedly hatched a plan to abduct his former employer’s son—an engineering student in a city-based college.

The accused had allegedly demanded Rs 1 crore ransom for the release of the victim, sources added.