Bhubaneswar:
Police said that a group of investors allegedly kidnapped a stock market merchant in Cuttack in Odisha as he failed to pay them their money.
The stock market merchant, identified as Soumya Ranjan Behera (31), was rescued from Kendrapara Town on Monday after a 12 -hour long operation. All seven kidnappers have also been arrested, he said.
Police Commissioner K Dev Dutta Singh said that Soumya was actively involved in share trading between 2019 and 2022, and had established an office in Kharwaranagar.
He said that a large number of people had invested their money in the markets, luring them with high returns in a short period.
“However, due to a sudden and severe recession in the market, Soumya suffered a large -scale financial loss and unable to repay investors,” he said.
Singh said that there has been no fraud in his business so far.
Those arrested are from Kendrapara district, and a car and four motorcycles were seized from them.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)
