Nabadiganta scam: Court to decide quantum of punishment today

Bhubaneswar: A Special CJM (CBI) court here on Friday will decide the quantum of punishment for Anjan Baliarsingh, who was found guilty of all charges in the Nabadiganta multi-crore chit fund scam.

Nabadiganta, registered with the Registrar of Companies, Cuttack in August 2011, had collected more than Rs 15 crore from the public in undivided Puri and Cuttack districts.

Two days back Baliarsingh, chairman and managing director of Nabadiganata Capital Services, had pleaded guilty of the charges levelled by the public prosecutor.

Court sources said he had submitted the petition through his lawyer before the Special CJM (CBI) after two and a half years since his arrest.

The conclusion of trial in the case is likely to spell trouble for three political leaders, including sitting MP from Mayurbhanj Ramchandra Hansda, who are co-accused in the case. Hansda, and former legislators Subarna Naik and Hitesh Bagarti, who were also directors in Nabadiganta, have been arrested by CBI for their alleged complicity in the financial fraud.

Baliarsingh, along with two directors of the company Kartikeya Panda and Pradeep Patnaik, was arrested by the CBI on October 26, 2014 and sent to judicial custody within six days. They have been lodged at the Special Jail here.