Bhubaneswar, June 11: Police have frozen the bank account of Inner Quality Business Solutions Pvt Ltd, a consulting firm, which has duped more than 200 persons by involving them in alleged preparation of e-books for foreign clients.

On June 9, the cops arrested retired captain of Indian Navy, Nrusingh Prasad Patnaik, for a similar fraud by one APS Solutions at Ashok Nagar.

The police said the Agra-based youths - Kuldeep Sharma and Vikrant Sharma - had set up the firm in a market complex at Kharavela Nagar in June 2016.

"Initially, they had roped in around 20 agents and asked them to scan the pages of various books and submit them in DVDs and hard disks. Each agent was paid Rs 5 per scanned page, and the firm initially kept security of around Rs 2 lakh from each of them," said a police official.

Later, the firm started paying them handsomely, prompting others to sign contracts with it. By March, the company managed to rope in more than 200 agents and asked them to deposit more security money.

"Being lured by the profit, I had deposited Rs 10 lakh as security money and started scanning the books. But in May, when I asked for my dues, the firm issued a cheque that bounced. Later, I visited its office several times, asking it to repay my security deposit. Every time they assured me they would return the money. But in the last week of May, we found all of its employees absconding," alleged Gourshanakar Muduli.

The police also seized a computer from the office but did not find any substantial data from it. "We have identified both the accused and formed a team to trace them. It will shortly visit Uttar Pradesh to nab them," said deputy commissioner of police Satyabrata Bhoi.

On the other hand, the cops have identified three other accused, involved in the fraud committed by APS Solutions, after interrogating the retired navy officer, who was sent to police remand for three days. His remand period will come to an end tomorrow.