Chit fund scam: Safex Infra India MD arrested

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Bhubaneswar: The Sahid Nagar police on Sunday arrested Feroz Khan, managing director of Safex Infra India, a chit fund company.

Acting on a tip-off about Khan’s presence in Jayadev Vihar area of the city, a team of Sahid Nagar police raided the area and arrested him.

Police later handed over Khan to the CBI which will produce him in the local court and seek permission to take him on remand.

Notably, the State Crime Branch had arrested eight members including four directors of Safex Infra India in 2012 for duping around Rs 25 crore from the people on the promise of providing them with attractive returns.

Later, the CBI took up the investigation and was on the hunt for Khan.

It may be recalled that the CBI had raided the offices of Safex Group of Companies in 14 places in Odisha on January 13 last year.

The Central investigating agency had raided the residence of Firoz Khan and four directors of the company—Purna Chandra Biswal, S Chinmaya Subudhi, Amanull Ahmed Khan, Santosh K Nanda—and seized incriminating documents.

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