Nabadiganta scam: After 3 yrs in jail, ex-BJP MLA Hitesh Bagarti granted bail

Cuttack: After remaining behind bars for almost three years, former MLA Hitesh Bagarti will walk out of the jail as Orissa High Court granted him conditional bail today in connection with Nabadiganta chit-fund scam.

The court directed him to deposit a sum of Rs 2 lakh for the bail.

Bagarti, a former legislator of BJP from Nuapada assembly constituency, was arrested by CBI in November, 2014 for his alleged complicity in the multi crore ponzi scam.

Along with the ex-BJP MLA, the CBI had also arrested BJD MP Ramachandra Hansdah and former BJD MLA Subarna Nayak for their alleged involvement in the scam. They all were charged with criminal conspiracy, cheating and diversion of funds.

Nayak had been granted bail by the court earlier while the MP is yet to get court breather.

Nabadiganta Capital Services, a chit fund company which has been accused of duping thousands of investors in Odisha had collected crores of rupees through its branches located in undivided Puri and Cuttack districts between 2011 and 2013.