Bhubaneswar: The Special CJM (CBI) Court granted the Central Bureau of Investigation (CBI) a seven-day remand of Pravat Dash, brother of Seashore group CMD Prasant Dash, who was arrested today by the Central agency.
According to sources, CBI summoned Pravat, who was the director of Seashore Securities Ltd, for questioning and later arrested him for his alleged involvement in swindling funds to the tune of Rs 3 crore. As per details available, Rs 3 crore was transferred to Pravat’s accountant and, according to CBI investigations, the funds were misappropriated by Pravat. He has been charged with criminal conspiracy and financial misappropriation.
Including Seashore Securities, Pravat was also director of around 15 other companies.
Tightening its noose around Seashore group in the multi-crore chit fund scam, the Enforcement Directorate (ED) attached the company’s property worth Rs 84 crore on January 9.
Under the Prevention of Money Laundering Act-2002, the agency attached the assets of the firm headed by Prashant Dash. A case under the Act was registered against Dash and others earlier in June.
ED investigations revealed that Prashant had floated 24 companies and 12 co-operative societies through which it duped thousands of investors by floating deposit schemes promising high returns.
Earlier, Prativa Das, Prashant’s wife and three functionaries of the company were interrogated by the CBI on December 21, 2014.
Similarly, CBI sleuths have also interrogated Prashant’s son Pradeep who was managing the business of the ponzi firm after the arrest of his father.