Court rejects bail plea of AT group chief

Khurdha: The Khurdha district sessions court has today rejected the bail plea of chit fund scam accused and Artha Tatwa chief Pradip Sethi.

After the CBI filed its charge sheet in connection with the multi-crore chit fund scam, Sethi had applied for bail.

Artha Tatwa group is among the 44 companies which are under scanner for their involvement in the chit fund scam. Through its various subsidiaries, the company is estimated to have duped investors to the tune of Rs 4,600 crore, not only in Odisha but also in certain other States.

The probe against Artha Tatwa group is part of CBI investigation against ponzi scheme operators which is an off shoot of Saradha scam. CBI was entrusted with probe on the orders of Supreme Court.

The Supreme Court had handed over the chit fund scam probe to the CBI and asked the State governments to provide all logistical help to the agency in this connection.