ED to take AT founder director on 4-day remand

Cuttack: The district sessions court today allowed the Enforcement Directorate (ED) to take the founding director of Artha Tatwa chit-fund company Jyoti Prakash Joy Prakash on four-day remand.

The Central Bureau of Investigation (CBI) probing the mega chit-fund scam in the State had arrested Joy Prakash in August, 2014.

Sources said that Joyprakash, a native of Bengal, was one of the directors of the company and was holding the second highest share of the firm after chairman-cum-managing director of the group Pradeep Sethy.

Joyprakash, who was considered a key player of the group for expansion of its business in Bengal, had been absconding since a case was registered against the company with Kharvela Nagar police station in 2013.

The commissionerate police, too, had mentioned his name in the charge sheet filed in a trial court in Bhubaneswar.