Tag: Chit Fund

ED chargesheets eight in chit fund fraud of Rs 67.37 cr
ED chargesheets eight in chit fund fraud of Rs 67.37 cr

The chargesheet was filed before a special PMLA court in Ranchi which has taken cognizance of the matter.

  • Wednesday, 08 June 2022
Odisha EOW Freezes Over Rs 17 Cr Bank Deposits Of Sambandh Finserv
Odisha EOW Freezes Over Rs 17 Cr Bank Deposits Of Sambandh Finserv

The Economic Offences Wing (EOW) of the Odisha Crime Branch has frozen over Rs 17 crore bank deposits of Sambandh Finserv accumulated through various fraudulent means.

  • Friday, 18 February 2022
Chit Fund Depositors Oscillate Between Hope And Despair In Odisha
Chit Fund Depositors Oscillate Between Hope And Despair In Odisha

Pushpabati Parida, a resident of Shaymsundarpur village in Balasore district. Pushpabati, who runs a grocery shop in the village to keep the wolf from the door, has a bitter story to narrate.

  • Friday, 17 December 2021
'Chit fund' company dupes Rs 10 crore in Jeypore

Koraput: Another instance of a chit fund company duping depositors of crores of rupees has come to fore in Jeypore town of Koraput district. According to reports, a company -Sunshine Infra Build Corporation Limited has allegedly duped to the tune of Rs 10 crores from hundreds of depositors in Koraput district through its various attractive […]

  • Wednesday, 28 July 2021
Suspended BJD MP alleges discrimination in party

Bhubaneswar: Suspended BJD MP Ramchandra Hansdah on Monday brought serious allegations against the party over withdrawal of his suspension. “I am a leader from tribal-dominated region. Had I been a leader representing coastal Odisha, the suspension would have been revoked by now,” said Hansdah. However, the BJD refused to comment on Hansdah’s allegation. “I have […]

  • Monday, 26 July 2021
Chit fund scam: Public notice to 184 ponzi firms

Bhubaneswar: Justice M M Das Commission, probing into the multi-crore chit fund scam in Odisha, today issued public notices in local newspapers asking officials of 184 companies to appear before it either in person or through their lawyers. The newspaper advertisement came after notices sent to these firms through registered post returned to the Commission’s […]

  • Monday, 26 July 2021
Berhampur chit fund
Chit fund scam resurfaces to haunt people in Odisha

Berhampur: There seems to be no end to duping by chit fund companies in Odisha. Even as such frauds continue to create headlines time and again, people still continue to fall prey to greed of high returns. Residents in Berhampur have come out with allegations of  being duped by a non-banking financial company named Datum. […]

  • Monday, 26 July 2021
Depositors duped of crores in Balasore, Bhadrak

Balasore/Bhadrak: A complaint has been filed against a private firm for duping depositors of crores of rupees in Balasore and Bhadrak districts. People of Bhaskarganj and Soro in Balasore and Bhadrak have brought such allegations against a firm – Hi-Tech Regional Cooperative, which started operations in the area in 2011. As per the complaint filed […]

  • Monday, 26 July 2021
CBI arrests Nirmal Infra CMD, GM in Rs 433 crore fraud

Bhubaneswar: The Central Bureau of Investigation (CBI) on Tuesday arrested the CMD and the General Manager of Nirmal Infra Ashish Chouhan and Abhisekh Chouhan respectively in connection with Rs 433 crore fraud. As per reports, the duo had been absconding since months. The CBI sleuths, acting on a tip-off, managed to arrest them after they […]

  • Saturday, 24 July 2021
Chit fund dupes duped investors, again!

Cuttack: As if their existing woes were not enough, duped investors of a chit fund company were hoodwinked once again by the same company, albeit in a different manner. According to sources, a chit fund company named AM Fund Managers had informed the Justice MM Das Commission of Inquiry probing the chit fund scam that […]

  • Friday, 23 July 2021
Nabadiganta scam: After 3 yrs in jail, ex-BJP MLA Hitesh Bagarti granted bail

Cuttack: After remaining behind bars for almost three years, former MLA Hitesh Bagarti will walk out of the jail as Orissa High Court granted him conditional bail today in connection with Nabadiganta chit-fund scam. The court directed him to deposit a sum of Rs 2 lakh for the bail. Bagarti, a former legislator of BJP […]

  • Friday, 23 July 2021
Chit fund scare returns to haunt depositors

Bolangir: At a time when scores of chit fund firms like AT & Seashore are facing CBI action with their officials cooling heels in jail for duping lakhs of innocent depositors, new ponzi firms are still emerging to target gullible investors in Odisha. As per sources, Adarsh Cooperative Societies Limited, a Gujarat-based mobile banking company […]

  • Friday, 23 July 2021
Chit fund link: CBI grills arrested BJD MLA Pravat Biswal

Bhubaneswar: The Central Bureau of Investigation (CBI) on Wednesday grilled BJD MLA Pravat Biswal, arrested on Tuesday in connection with his alleged links with chit fund firm Seashore Group, amidst protests by the ruling party activists in front of the probing agency’s state headquarters here. In order to prevent law and order situation, the twin […]

  • Friday, 23 July 2021
BJP targets Prasanna Acharya, asks Naveen to clear stand on chit fund issue

Bhubaneswar: Raising questions on the modus operandi of the Naveen Patnaik-led BJD government in bringing people involved in chit fund case to book, the BJP today targeted BJD’s Rajya Sabha member Prasanna Acharya and alleged that the ruling party is trying to shield the culprits for vested interests. At a press meet at the party […]

  • Friday, 23 July 2021
EOW arrests founder of Sai Pragati chit fund firm

Bhubaneswar: The Economic Offences Wing (EOW) of Crime Branch (CB) on Tuesday arrested Kamalakant Pattnaik, founder of chit fund company Sai Pragati, accused of duping investors of crores of rupees. Pattnaik, who works as a traffic inspector in Transport Department was arrested from Bhubaneswar today. According to sources, the EOW took up the probe after […]

  • Friday, 23 July 2021