Bhubaneswar, Nov. 8: The Economic Offence Wing (EOW) on Saturday arrested managing director of a Calcutta-based money deposit collection company for allegedly cheating investors worth Rs 10 crore across the state.

The investigating agency arrested Omkar Singh of OAK India Multi-State Credit Cooperative Society Limited from Calcutta.

EOW officials said that the deposit collection firm had collected money from investors promising them high return in quick time.

"A case was registered against the company in May this year on the basis of a complaint filed by one Subash Chandra Pradhan of Puri district. We produced the accused in a Calcutta court and later brought him on transit remand for further interrogation," said an official.