Chit fund scam: Builder Ray sent to CBI remand for 12 days

Bhubaneswar: City-based Builder Sagar Ray was sent by a Special CBI court here to a 12-day remand in CBI custody on Saturday.

The central investigating agency’s counsel prayed before the court to take Ray on a 14-day remand, sources said.

Ray, who was managing director of Orisons Group of Companies, was arrested by CBI on Friday for his alleged links with Artha Tatwa Group (AT).

Notably, businessmen Vineet Lalani and Dilip Mohanty, who were directors of Orisons Group, were arrested last week on similar charges.