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Tag: Chit Fund Scam

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Rose Valley ponzi scam: ED files charge sheet in Odisha

Bhubaneswar: Enforcement Directorate today filed a charge sheet in the multi-crore Rose Valley chit fund scam wherein thousands of people were cheated in West Bengal and Odisha. The agency said it has filed a prosecution complaint (equivalent of charge sheet) pertaining to cases in Odisha under the provisions of the Prevention of Money Laundering Act […]

CBI to take Safex Infra India MD on 5-day remand

Bhubaneswar: The CBI special CJM court on Monday allowed the national investigating agency to take the arrested managing director (MD) of chit fund company Safex Infra India Feroz Khan on a five-day remand. According to sources, CBI had sought court’s permission to take Feroz on a seven-day remand. However, the court allowed the investigating agency […]

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Chit fund scam: Safex Infra India MD arrested

The Sahid Nagar police on Sunday arrested Feroz Khan, managing director of Safex Infra India, a chit fund company

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Chit-fund scam: IG Central Koche quizzed by CBI

Intensifying its probe into the multi-crore chit-fund scam in Odisha, the Central Bureau of Investigation (CBI) on Wednesday quizzed IG, Central range RP Koche about his alleged connections with the Seashore Group of Companies

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Chit fund issue: Odisha govt to amend OPID Act

Bhubaneswar: As per its decision to return the money to the small and genuine investors, who had invested their money in chit fund companies on a priority, the state government has decided to amend the Odisha Protection of Interests of the Depositors (OPID) Act, 2011, to make provisions for identification of genuine investors. A bill […]

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SC to hear plea challenging Pravat Tripathi’s bail on March 4

Bhubaneswar: The Supreme Court (SC) will hear the plea demanding rejection of the bail granted to chit fund scam accused and senior BJD MLA Prabhat Tripathi on March 4. In December 2015, the Supreme Court (SC) on Thursday served a notice to suspended BJD MLA Pravat Tripathy on a special leave petition (SLP) filed by […]

SC
SC rejects Seashore director Prabhat Das’ bail plea

New Delhi/Bhubaneswar: The Supreme Court today rejected the bail petition of Seashore CMD Prashant Das’ brother Prabhat while directing the Central Bureau of Investigation (CBI) to complete the probe related to Prabhat by the end of May. Prabhat was the director of Seashore Securities Ltd, one of the sister concerns of Seashore Group of Companies, […]

gautam kundu
Rose Valley chief sent to another 4-day CBI remand

Chief of tainted chit-fund firm Rose Valley Group Gautam Kundu was sent to another four-day remand with the CBI by the Special Court here.

SITARAM YECHURY
CPM seeks BJD stand on CBI probe into chit fund scam

The CPM on Friday urged the ruling BJD government in Odisha to make its stand clear on whether the CBI has the soft corner for the state government in the chit fund scam investigation as per the directive of the Centre

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OPL-chit fund link: Ashirbad deposes before CBI

Bhubaneswar: Odisha Cricket Association (OCA) secretary Ashirbad Behera on Monday deposed before the officials of Central Bureau of Investigation (CBI) in connection with alleged links of chit fund companies with franchisees of Odisha Premier League (OPL). Behera’s deposition carries significance following the January 6 arrest of Ranjan Das, the chairman of tainted chit fund firm […]

CBI
Chit fund scam: CBI arrests 3 functionaries of Swastik India

Bhubaneswar: The Central Bureau of Investigation (CBI) on Wednesday arrested three executives of chit fund firm Swastik India Multi State Credit Cooperative in connection with the company’s alleged money laundering activities. Officials said, the arrested functionaries are –company’s chief Ranjan Das, Pramod Parida and Sabyasachi Pani. In July, 2015 the Special Investigation Team (SIT) of […]

CHIF FUND SCAM
Chit Fund scam: Ashirbad Multipurpose CEO held from Keonjhar

The Economic Offences Wing (EOW) of the Odisha Crime Branch on Sunday arrested Swetang Patnaik, chief executive officer (CEO) of Ashirbad Multipurpose Cooperative Ltd, from Keonjhar on charges of duping depositors of Rs 10 crore

Soumya ranjan
Chitgate: Investors demand tehsil-wise survey

The Arthika Sanstha Manakdwara Kshatigrastanka Milita Manch today demanded a tehsil-wise survey of chit fund investors who lost their hard-earned money in one of the biggest scam of the State

Top cop closely linked with AT chief: CBI

Bhubaneswar: The supplementary chargesheet filed by the Central Bureau of Investigation (CBI) in connection with the Artha Tatwa (AT) chit fund scam has revealed that former Crime Branch deputy superintendent of police (DSP) Pramod Panda, one of the main accused in the case, was quite close to AT group director Pradip Sethy. In its report, […]

Govt sets new 'terms' for chitgate panel

Bhubaneswar: Giving rise to the hope of thousands of poor people for getting back their hard-earned money invested in ponzi firms, the State government today issued new terms of reference (ToR) to the commission of inquiry probing the multi-crore chit fund scam in the State, to identify bona fide investors and suggest ways to return […]

BJP
Expedite ponzi scam probe: BJP urges CBI

Bhubaneswar: The BJP on Tuesday staged a demonstration here, urging the CBI to speed up its ongoing investigation into the multi-crore-rupee chit fund scam in Odisha. The Bharatiya Janata Party submitted a memorandum to Central Bureau of Investigation chief Anil Kumar Sinha, asking him to expedite the probe in the scam in which several politicians […]

Chitgate: Odisha seeks court-monitored probe

New Delhi: Odisha government today sought court-monitored CBI investigation into the multi-crore chit fund scam, telling Supreme Court that the probe was not going on at the desired pace. A bench comprising justices T.S. Thakur and Adarsh Kumar Goel said, “We have made clear to CBI that it will have to investigate the cases which […]

Justice MM Das to head chit fund inquiry commission

Bhubaneswar: The Odisha government on Wednesday appointed Justice Madan Mohan Das to head the Commission of Inquiry probing multi-crore chit fund scam in Odisha. The post fell vacant after the death of Justice Radha Krushna Patra who was heading the one-man commission. Patra was undergoing treatment for pneumonia and breathed his last in Cuttack on […]

Chitgate: CBI raid on Saradha, Real Tulip

Puri/Bhubaneswar: The Crime Branch of Investigation (CBI) today conducted searches at several places in West Bengal and Odisha in connection with the chit fund scam. While the central agency raided Saradha group’s office located at Badasankha in Puri in connection with the group’s involvement in swindling money, Real Tulip India’s offices too were searched in […]

Justice Patra put on ventilator

Bhubaneswar/Cuttack: Justice RK Patra, who is heading the Commission of Inquiry probing the multi-core chit fund scam in the state, has been placed on ventilator support at the SCB medical college and hospital in Cuttack, following complains of chest pain. Medical sources said, the former chief justice of Sikkim High Court is diagnosed with pneumonia […]

Firms chosen for database preparation

The Odisha Computer Application Centre (OCAC) has selected Mumbai-based Stock Holding Corporation of India Project Limited and city-based Print Link Computer and Communication through tender process to prepare the database of the depositors of multi-crore chit fund scam in the State

SIT seeks State help for security of accused

The CBI’s Special Investigation Team (SIT), which is probing into multi-crore chit-fund scam in Odisha, has written a letter to the state’s Chief Secretary GC Pati seeking help regarding security of accused during remand, sources said

Pravat Tripathy had taken Rs 42L from AT

Suspended BJD MLA Pravat Tripathy had taken Rs 42 lakh cash from Pradeep Sethy, chief of Artha Tatwa (AT) group, to patronize the illegal money circulation business of the ponzi firm, the Central Bureau of Investigation (CBI) said in its preliminary chargesheet

CBI quizzes two Health officials over Seashore link

Bhubaneswar: In its bid to unearth the affairs of Seashore with the Health and Family Welfare department, CBI today questioned two if its section officers about the ponzi company managing a few primary health centres (PHCs) in the State. The duo appeared at the office of the Central probe agency this morning with all the […]

AT Group
Permission for confiscation of property of AT Group sought

The police today sought permission from the Odisha government to confiscate the property of Artha Tatwa (AT) Group which allegedly defrauded over Rs 350 crore from investors in the state capital.

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