Zodiac Foundation official arrested
New Delhi/ Bhubaneswar: CBI today arrested an absonding owner of a pozi company in one of the chit fund cases probed by the agency in Odisha.
CBI sources said Dandapani Sethi of Zodiac Foundation was arrested this evening by the agency team.
“It was alleged that the said accused collected crores of rupees from the public after enticing them to deposit money in various financial schemes of the company and absconded after collecting the public money. He was the prime accused in this case and was absconding since the beginning of investigation of this case,” CBI spokesperson Kanchan Prasad said here.
She said a case was registered on June 5, 2014 in accordance with the order of the Supreme Court dated May 9, 2014 passed in writ petition No 401 of 2013 and No 413 of 2013.
CBI had registered a case against the chit fund company based in Odisha under section 420 IPC (cheating) and Sec 3,4 and 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
“Due to constant efforts by CBI, he has been arrested at Phulbani (Odisha). The arrested accused will be produced tomorrow in the Court of Special CJM, CBI Cases, Bhubaneswar,” she said.
The agency is probing 44 companies in Odisha chit fund case with as many FIR.