Odisha chit fund case: ED raids Green India company owner’s house in Berhampur

The Enforcement Directorate (ED) on Thursday carried out a raid in Berhampur in connection with an ongoing chit fund fraud case involving the Green India company. The operation was focused on the residence of the company owner, Pradeep Singh.

The ED team is reportedly gathering documents and other financial records to probe alleged financial irregularities and fraudulent activities connected to the chit fund operations. The company was into money circulation business, operating primarily from Berhampur.

It also has several subsidiaries, including Green India Properties, Green India Infra Projects, Green India Retail and Green India Multi-state Cooperative Pvt Ltd. With this, the company has allegedly duped hundreds of investors of over Rs 30 crore over a period of three years. 

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A majority of the investors in the ponzi firm are from the Southern districts of Odisha. 

The investigation is part of a broader effort to crack down on fraudulent financial schemes operating in the region. The Enforcement Directorate has intensified its scrutiny of chit fund companies following numerous complaints of mismanagement and investors’ losses.

Earlier, hundreds of depositors had gheraoed the EOW office in Berhampur, demanding the arrest of Singh.

Further details on any arrests or seizures made during the raid are yet to be officially released by the authorities.