Naseer Khan, the producer of just released movie "Shadow", may be arrested for using the chit fund money to make the movie, said a police official Wednesday.

The crime branch of the Orissa police had filed a case against Khan's company, Greater Entertainment, last month for diverting the money raised through chit fund and multi-level-marketing to produce "Shadow".

"We are probing the matter. We have filed cases against seven companies, including Naseer Khan's company, as some of the money ultimately finds its way to his company account, " said Crime Branch superitendent of police Santosh Bala.

Last month the crime branch had unearthed some chit fund companies and multi-level marketing companies in Balasore district Orissa for allegedly duping people of about Rs.190 crore by promising them thrice the deposit amount in a short span of time. After a probe, it was found that the tentacles of the scam go beyond the state.

The officials have already made arrests in the state for cheating and luring people to invest in these companies.

"We have already frozen several accounts. We have frozen accounts to the tune of Rs.190 crore. We are verifying further details before arresting him (Naseer Khan), " said Bala.

Released Aug 21, "Shadow" has Milind Soman and Sonali Kulkarni in lead roles and is directed by Rohit Nayyar. Naseer Khan, who co-produced the film with Shamshad Alam, has also acted in it.