The owner and managing director of a North Bengal-based chit fund company was arrested at Shyamnagar in North 24-Parganas district for allegedly swindling depositors money, police said today.
"Prasenjit Majumdar, the owner and MD of Annex Infrastructure Pvt Ltd was arrested last night at Ramkrishnapally at Shyamnagar. He was hiding here for several days," Commissioner of Police of Barrackpore Sanjay Singh said.
Complaints of cheating and swindling depositors money were lodged against him in North Bengal and he was absconding, the police said.
The police seized from him Rs 72 lakh in cash, kept in three large cartons of biscuits.
Mainly people living in North Bengal, Assam and Tripura had deposited money in the company, the police said.
