HC grants bail to chit fund accused

Cuttack: Former Odisha Youth Congress chief Rajat Choudhury, arrested by CBI in connection with the multi-crore chit fund scam, was today granted conditional bail by the Orissa High Court.

Choudhury was arrested in July for his alleged role in the scam and illegal collection of public money by Arthatatwa (AT) Group of Companies.

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Choudhury had allegedly sold a prime plot of AT group for over Rs 94 lakh. He had apparently the power of attorney of the land and sold it to one of his friends. The CBI is, however, unable to find the money trail obtained through the land deal.

Setting conditions of his bail, the high court directed Choudhury to deposit Rs 1.5 crore and furnish bail bonds of Rs one lakh each of two sureties in the lower court.