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Topic result for chit-fund-scam

Seashore chit fund scam: Charges framed against ex-Choudwar-Cuttack MLA Pravat Biswal 
Seashore chit fund scam: Charges framed against ex-Choudwar-Cuttack MLA Pravat Biswal 

The charges were framed against former Choudwar-Cuttack MLA, Prabhat Biswal and his wife Laxmibilasin for their alleged involvement in the multi-crore chit-fund scam.  

Chit fund scam: Thousands of affidavits of duped investors rotting in commission's office in Odisha
Chit fund scam: Thousands of affidavits of duped investors rotting in commission's office in Odisha

The bizarre state of affairs exposes the state government’s tall claims of refunding the money of the duped investors. The affidavits and other important documents have been rotting in the Buxi Bazar-based office.

Investors Gherao Shashikant's House Demanding Money
Youth dupes Rs 2.5 crore from investors promising double returns in 3 months

Sashikant floated a Ponzi scheme and promised the investors in his village and around Aul to double whatever money they deposit in the scheme, in three months.

Ponzi Scam
Ponzi scam: EOW freezes Rs 53.48 lakh in bank accounts of Cloud-Fut

Kar was arrested based on the complaint filed by one Mahamanya Jena of Sahadebkhunta area in Balasore district. The complainant had alleged that Kar had induced him to invest in an App/website- ‘Cloud-Fut’ for earning extra money.

Chit fund scam: Ponzi firm Rose Valley’s property worth Rs 250 crore attached by ED
Chit fund scam: Ponzi firm Rose Valley’s property worth Rs 250 crore attached by ED

So far, the enforcement agency has attached both moveable and immovable assets of the ponzi firm worth Rs 1,171 crore.

Chit fund scam
Chit fund scam resurfaces: Odisha EOW arrests Balasore man for duping investors of crores

Following the allegations, the Economic Offences Wing (EOW) arrested Nilesh. He has been sent to judicial custody.

Rose Valley chit fund scam
Rose Valley chit fund scam: Over 2 lakh depositors get back money, says Odisha minister

The Supreme Court of India had also asked the Odisha government and the CBI to submit a report on the steps taken to refund the money of the chit fund beneficiaries in the State.

Rabindra Jena
Seashore chit fund scam: Setback for former MP Rabindra Jena 

Notably, the alleged involvement of some leaders of the BJD including Jena in the multi-crore ponzi scam came to light after the national probe agency took over the case in May 2014. The Supreme Court of India had directed the CBI to investigate the matter.

Supreme Court
Chit Fund case: Supreme Court directs CBI to file status report by Jan 7

The court has asked the CBI not to linger the case anymore.

Odisha chit fund scam: SC appoints amicus curie, grants more time to CBI to submit report 
Odisha chit fund scam: SC appoints amicus curie, grants more time to CBI to submit report 

While the chit fund beneficiaries are still waiting desperately to get back their hard-earned money, the appointment of amicus curie has rekindled their hope. 

chit fund
Chit Fund case: Odisha Crime Branch arrests MD of Kolkata-based firm

During investigation, the police found that out of the collected amount, during the year 2011-12, a sum of about Rs 1.83 crore has been diverted to the account of Jetex Oceanair Pvt. Ltd

Chit Fund
Supreme Court On Chit Fund Money Refund

The Supreme Court on Tuesday asked the Odisha govt and the CBI to submit a report on the steps taken to refund the chit fund money to the beneficiaries.

Supreme Court Lawyer Prashant Bhushan
Chit fund scam: Supreme Court seeks status report from Odisha govt, CBI on money refund

Hearing a writ petition, a two-judge bench chaired by Justice MR Saha and Justice Krishnamurari conveyed their dissatisfaction on the delay in refunding money to the beneficiaries and directed the Odisha government as well as the CBI to submit a report on the development of the case.

Uproar in Assembly over rejection of 'chit fund' adjournment motion, BJP accuses govt of killing dem
Uproar in Assembly over rejection of 'chit fund' adjournment motion, BJP accuses govt of killing democracy 

Taking exception to it, Opposition Chief Whip Mohan Charan Majhi accused the Speaker and government of trying to kill democracy. 

ED attaches 3.92 crore property of ex Odisha MLA Pravat Biswal
ED attaches Rs 3.92 crore property of ex Odisha MLA Pravat Biswal

The Enforcement Directorate on Saturday attached property of over Rs 3.92 crore belonging to former Cuttack-Choudwar MLA Pravat Biswal in connection with money laundering case.

Odisha EOW arrests ponzi director from Brindavan for duping investors of Rs 1.5 cr
Odisha EOW arrests ponzi director from Brindavan for duping investors of Rs 1.5 cr

Prince Kumar, a resident of Muzaffarpur in Bihar, has been accused of forging documents and misappropriating Rs 1.5 crore from investors in Odisha.

Orissa HC Orders Compensation To Chit Fund Victims On First Come First Serve Basis
Orissa HC Orders Compensation To Chit Fund Victims On First Come First Serve Basis

The HC found the competent authority has already kept a sum of Rs 48.16 crore in its pocket. 

Ponzi Firm Director Arrested From Kolkata For Duping Odisha Investors Of Rs 15 Cr
Ponzi Firm Director Arrested From Kolkata For Duping Odisha Investors Of Rs 15 Cr

The accused has been brought to Odisha on transit remand and will be produced before the designated chit fund court in Balasore today. 

Odisha EOW Arrests 2 More Accused In Rs 10 Crore Ponzi Fraud
Odisha EOW Arrests 2 More Accused In Rs 10 Crore Ponzi Fraud

Sarat Kumar Nayak and Prabhat Ranjan Das associated with M/s Auroxa Deal Multitrade (OPC) Pvt. Ltd were arrested from their residences in Balasore district.

Economic Offences Wing Of Odisha Crime Branch
Bounty On 3 Economic Offenders, EOW Issues Phone Numbers

Notifications putting reward on the heads of three wanted fugitives was issued by the Economic Offences Wing (EOW) of the Odisha Crime Branch on Monday