Tag: Chit Fund Scam

Bhubaneswar: The Justice MM Das Commission, probing the multi-crore chit fund scam in the state, has today submitted its third interim report to the government. In its report, the Commission has stated that a total of 41519 small depositors have been identified after a thorough probe into the complaints filed against 176 companies. Meanwhile, the […]

Bhubaneswar: A special CBI court in Bhubaneswar on Tuesday sentenced Durga Prasad Mishra, group chief of chit fund firm Micro Finance Ltd, to 3-year imprisonment after he pleaded guilty to defrauding investors of their money. The court has also directed Mishra to pay a compensation of Rs 215 crore failing which the properties of Micro […]

Bhubaneswar: Micro Finance chit fund company chief Durga Prasad Mishra was convicted in the CBI special court today. According to sources, the court has reserved its judgement and will pronounce the quantum of punishment on July 18. Durga had earlier pleaded guilty to his crimes before the Bhubaneswar special CJM in writing. CBI had arrested […]

Bhubaneswar: The CBI Joint Director AYV Krishna reached Bhubaneswar today to review investigation into various cases, including the chit fund scam and those being investigated by the probe agency. During his two-day visit to the capital city, Krishna will have discussion with the officials of the central investigating agency. Besides reviewing the progress of investigation […]

Bhubaneswar: More than 1,200 small depositors duped by chit fund companies in Odisha have been refunded their money, as per the report of Justice MM Das Commission of Enquiry, which is probing into the multi-crore chit fund scam. As per the third interim report of the panel released today, as many as 22 various chit […]

Bhubaneswar: A special CBI court here on Tuesday awarded five-year imprisonment to Waytel Chit Fund Managing Director Thakur Amardip Singh, who pleaded guilty to defrauding investors of their money. Besides, Singh has also been asked to deposit Rs 100 crore with the court’s registry. On April 24, Singh, who was arrested from Nagpur, had pleaded […]

Bhubaneswar: The Special CBI court here may frame charges against 21 accused in the Artha Tatwa chit fund scam, today. The accused include a few politicians, MLAs, businessmen and mass media owners. It may be mentioned that the CBI court had yesterday sentenced Artha Tatwa Group chief Pradeep Sethy to 7-year jail term in connection […]

Bhubaneswar: The Special CJM CBI court sentenced Artha Tatwa Group chief Pradeep Sethy to 7-year jail term in connection with the firm’s involvement in the multi-crore chit fund scam in Odisha. Artha Tatwa director Manoj Patnaik, has been awarded four years of imprisonment. While Sethy has been asked to pay a fine of Rs 30,000, […]

Bhubaneswar: The Serious Fraud Investigation Office (SFIO) today grilled in Seashore chit fund scam accused in Jharpara Jail today. According to sources, a team of SFIO interrogated Seashore chief Prashant Das, his brother Pravat Das and middleman Subhankar Nayak. Also Read: SFIO to register fresh case against Artha Tatwa Recently, CBI special court in Bhubaneswar […]

Bhubaneswar: The Serious Fraud Investigation Office (SFIO) today grilled the accused in Artha Tatwa (AT) chit fund scam in Jharpara Jail today. According to sources, a 5-member team of the SFIO visited the Jharpara jail and is interrogating the accused. Also Read: ED attaches assets Rs 23 cr of Artha Tatwa group AT chief, Pradeep […]

Bhubaneswar: In-charge of Odisha BJP Arun Singh today targeted the Odisha government and sought reply on a host of issues which reflects the government’s callousness and incompetence. Ahead of the Panchayat Polls, Singh slammed the ruling BJD asking why the beneficiaries are deprived of the ration cards? Why farmers are not getting right price in […]

Aska: A three-member team of CBI officials today arrived in Aska in Ganjam district to probe into the chit fund scam. Reports said the officials of the central investigating agency led by SP, Rajiv Ranjan Singh and Additional SP, Rajiv Sinha, after their arrival in Aska town, went to Revenue Inspection bungalow where they verified […]

Balasore: A specially designated court today ordered confiscation of properties worth Rs 4 crore of scam-tainted Saradha Chit Fund. The properties to be confiscated include a land to the tune of 13.64 acre. “The ad interim order of the Odisha government’s Finance department to attach 13.64 acre land belonging to the company has been made […]

Bhubaneswar: Political bickering today gained momentum after the vigilance conducted a raid at a gas agency owned by the brother of Union Minister and Senior BJP leader Dharmendra Pradhan at Handidhua in Talcher. BJP general Secretary Prithviraj Harichandan demanded the vigilance should not take a wrong step while coming under any pressure. Harichandan alleged, “As […]

Bhubaneswar: A day after raids were conducted by the Central Bureau of Investigation (CBI) at 36 places across Odisha in connection with the chit-fund scam case, a meeting in between the central probe agency’s SP Rajeev Ranjan and Director General of Police (DGP) KB Singh at the camp office here has left many tongues wagging […]