Tag: Chit Fund Scam

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

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.

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.

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

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.

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

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

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

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.

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

The movable and immovable assets created by the accused companies from out of the public deposits have been attached under section 3 of OPID Act, 2011. The investigation in the case is underway, added the EOW.

Duped investors’ joint forum said the Gana Satyagraha (mass agitation) will continue throughout the State till the last duped investor is refunded.

Odisha police on Monday arrested former Visakhapatnam West Zone MLA and YSRCP leader Malla Vijaya Prasad over his alleged involvement in a multi-hundred crore chit fund case

Berhampur: The Berhampur Police has taken Braja Sundar Patnaik, the managing director of Datum Marketing and his wife Tridhara on a five-day remand. According to reports, Datum Marketing Company has allegedly duped nearly Rs 100 crore from depositors in Ganjam and neighbouring Andhra Pradesh through several lucrative schemes. Both Braja Sundar and his wife were […]

Bhubaneswar: Launching a scathing attack on the ruling-BJD, the BJP today said it has chalked out plans to reach out the people of the State and highlight corruption by the government. The saffron party passed as many as 15 political resolutions including 10 on corruption issues at its State Executive meeting today which includes a […]