AT Group CMD arrested; CB says efforts on to recover investors

Bhubaneswar: In what is being claimed as a major breakthrough in the recent money duping cases by financial companies, controversial money circulation firm Artha Tatwa (AT) Group’s CMD Pradeep Sethi has been arrested by commissionerate police here on Sunday.

Preliminary interrogation has revealed that dimension of the alleged money laundering scam could be worth Rs 130 crore.

Meanwhile, ADG (Crime Branch) BK Sharma said every possible efforts of the investigating agency are on to recover money of the investors.

Sharma who reached Balasore on Sunday to review the investigation process told newsmen that raids will be continued on all such companies which are into money circulating business. At the same time, people must be aware before investing their hard earned money in such fraud organisations, he said.

“Raids have been conducted on all small and big chit fund companies who have country wide network. Recovering money of the investors is a complex process as many legal processes are involved in it. Still, all possible efforts are on to save people’s money”, Sharma told reporters adding about one hunderd  cases have so far been registered against such companies.

Talking on the current investigation, he said, “The cases cannot be cracked after one or two raids. So, we have to continue raids on a sustain basis”.

Meanwhile, commissionerate police on Sunday raided various companies in Bhubaneswar and arrested three officials of two such companies.

Earlier on Friday the CB officials had conducted a massive crackdown on firms running money circulation schemes in the state.

The sleuths along with state police launched simultaneous raids on as many as 150 offices of financial firms operating in 15 districts and seized various documents, money receipts and computers.

The raids were conducted in Balasore, Sambalpur, Bargarh, Kendrapara, Jharsuguda, Bolangir, Ganjam, Boudh, Kandhamal, Kalahandi, Malkangiri, Rayagada, Sundargarh districts.