Seashore chit fund scam: Charges framed against ex-Choudwar-Cuttack MLA Pravat Biswal 

Nine years after the registration of a case in connection with the Seashore Chit Fund scam, a CBI Court on Saturday framed charges against former Choudwar-Cuttack MLA, Prabhat Biswal and his wife Laxmibilasini. 

The charges were framed against the husband-wife duo for their alleged involvement in the multi-crore chit-fund scam.  

The Bhubaneswar CBI Court-I in the presence of Biswal and his wife framed charges against them under Sections 420, 120 B, 409, 467, 468, and 471 of the Indian Penal Code. It is learned that Pravat, when asked by the court to own up to the charges or go for a hearing, opted for a hearing and said it should be made without delay.   

Notably, the alleged involvement of Biswal and some other BJD leaders in the multi-crore Ponzi scam came to light after the national probe agency took over the case in May 2014. The Supreme Court of India had directed the CBI to investigate the matter.

In 2014, the then Banki MLA, Pravat Tripathy, and Mayurbhanj MP Ramachandra Hansdah were arrested in two separate cases. 
Later in 2017, Biswal was arrested in connection with a dubious land deal with Seashore Group chief, Prashant Dash. It is alleged that Biswal had struck a controversial land deal worth Rs 25 lakh with Seashore group in his home district of Jajpur and camouflaged it as a genuine business transaction through his wife Laxmibilasini’s account.