Archive · 4 Jan 2026
Key Accused in Rs.40 Crore Trading Fraud Arrested
A man named Amit Mandal from West Bengal was arrested for cheating people out of their money.
He promised high returns on investments in share trading but didn't pay back the money.
He collected over Rs.
120 crore from more than 600 people, but Rs.
40 crore is still missing.
The police caught him in his home district and brought him to Odisha for trial.
One person who lost money is Sushant Kumar Das, who invested Rs.
8.5 lakh.
Amit Mandal was arrested for a Rs. 40 crore trading fraud.
He promised high monthly returns ranging from 3.5% to 7%.
Mandal collected over Rs. 120 crore from 600 investors.
He failed to pay returns in 2023 and went missing before arrest.
The case was registered based on a complaint by Sushant Kumar Das.
- Who
- Amit Mandal, a resident of Bankura, West Bengal
- What
- Arrest of the prime accused in a Rs. 40 crore trading fraud case
- When
- Arrested on December 31, 2023, brought to Odisha on January 3, 2024
- Where
- Arrested in Bankura, West Bengal; case registered in Odisha
- Why
- For inducing investors to deposit money in share trading with promises of high returns
- Accused Name
- Amit Mandal
- Accused Location
- Bankura, West Bengal
- Fraud Amount
- Rs. 40 crore
- Investors Affected
- 600 (500 from Odisha, 100 from West Bengal)
- Total Collected
- Rs. 120 crore
- Investment Period
- 2020-2024
- Complainant
- Sushant Kumar Das
- Complainant's Investment
- Rs. 8.5 lakh