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Tag: Chit Fund Scam

Micro Finance chit fund chief convicted

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 […]

CBI Joint Director visits state to review Ponzi scam probe

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 […]

special court
Court orders auction of properties of ponzi firm

Berhampur: A special court here, designated to hear cases related to chit fund scam, today ordered public auction of properties of a ponzi scheme firm. Special Judge P K Patnaik pronounced the order on a plea filed by additional district magistrate (ADM), Ganjam, Saroj Mishra seeking the court’s permission to sell the properties of Katloon Management […]

chit fund
Over 1,200 investors refunded by Chit fund firms: Enquiry panel

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 […]

Chitgate: Waytel MD gets 5-yr jail term

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 […]

Artha Tatwa
AT chit fund scam: Spl CBI Court to frame charges against 21 accused

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 […]

Pradeep Sethy
Artha Tatwa’s Pradeep Sethy gets 7-year jail term

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, […]

Seashore - SFIO investigation
SFIO interrogates Seashore chit fund scam accused in jail

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 […]

Panchayat campaign: Pradhan-Panigrahi engaged in war of words

Bhubaneswar: While campaigning for their respective party candidates in the Panchayat polls in Odisha, Union Petroleum and Natural Gas minister Dharmendra Pradhan and Odisha’s Higher Education minister Pradeep Panigrahi today accused each other of fraud and corruption. Panigrahi accused Pradhan of having the record of being a “coal thief” before 2000, Pradhan raised question on […]

SFIO interrogates AT chit fund scam accused in jail

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 […]

Arun Singh
BJP targets Odisha govt; seeks answers on host of issues

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 […]

chit fund
Chit fund scam: CBI team begins probe in Aska

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 […]

Saradha Chit fund
Court orders confiscation of properties of Saradha chit fund

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 […]

Vig raid on gas agency of Dharmendra's brother creates political spat

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 […]

CBI SP, Odisha DGP meeting sparks guessing game

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 […]

Seashore scam: MP Jena likely to appear before CBI today

Bhubaneswar: Balasore MP Rabindra Jena is likely to appear before Central Bureau of Investigation (CBI) today for his alleged links with multi-crore chit fund scam. The CBI had served notice to the BJD MP from Balasore on January 9 asking him to appear before it today. Earlier, Jena had also appeared before the central probe […]

TMC Protest
TMC MPs continue sit-in protest against Modi govt

Bhubaneswar: Announcing its plan to continue with agitations till the ouster of Narendra Modi from the helm, the Trinamool Congress today said it foresaw Mamata Banerjee as a future prime minister. “This could happen one day. After all, we are a political party which is growing by the day. People may decide that (making Mamata […]

TMC to stage demo against arrest of party MPs today

Bhubaneswar: The Trinamool Congress (TMC) will stage a demonstration here today to protest demonetisation and arrest of party MPs Sudip Bandyopadhyay and Babul Supriyo in the Rose Valley chit fund scam. The party workers would stage demonstration followed by a protest meeting at Lower PMG here from 11 AM to 3 PM. TMC general secretary […]

Nayna Bandopadhya
My husband is in "Modi's custody": TMC MLA Sudip's wife

Bhubaneswar: Alleging political vendetta behind the arrest of TMC leaders, Trinamool Congress MP Sudip Bandopadhya’s wife Nayna today said her husband was in the “custody of Modi” and not in the “CBI’s custody.” Nayna, who has been camping here ever since her husband had been brought to the CBI custody for his alleged link to […]

Sudip remand TMC protest
Chit fund scam: TMC targets Centre as CBI takes Sudip on further remand

Bhubaneswar: Arrested All India Trinamool Congress (TMC) MP Sudip Bandyopadhyay was taken on a 4-day remand by the CBI for the second time in connection with the Rose Valley Chit Fund scam while the party continued its attack on the Centre accusing it of political vendetta. The Central investigating agency produced Sudip in the CBI […]

Seashore scam: CBI serves notice to Balasore MP

Bhubaneswar: As part of its probe into multi-crore Seashore chit fund scam, Central Bureau of Investigation (CBI) on Monday served notice to Balasore MP Rabindra Jena asking him to appear before it on January 12. Earlier, Jena had also appeared before the central probe agency for his alleged nexus with the tainted ponzi firm. This […]

TMC to take out protest rally in Bhubaneswar

Kolkata: With two of its MPs, Tapas Pal and Sudip Bandopadhyay, arrested by the CBI here in connection with the Rose Valley chit fund scam, shifted to Bhubaneswar, the Trinamool Congress has decided to hold a protest rally in the Odisha capital tomorrow. “We cannot be cowed down by threats and vendetta politics. The Centre […]

Opposition-BJD spar over TMC, Rose Valley chit fund links

Bhubaneswar: Opposition BJP and Congress continued their attack on the ruling-BJD in Odisha over links with Rose Valley chit fund scam and Trinamool Congress (TMC). Alleging that BJD and TMC have struck an undeclared alliance, Odisha BJP vice president Sameer Mohanty today told media persons that the ruling-party in Odisha has agreed to provide its […]

SUDIP_rose valley scam
Senior TMC leaders to fly to Odisha to meet Sudip on Sunday

Kolkata: To show solidarity with party MP Sudip Bandyopadhyay, arrested by the CBI in connection with the Rose Valley chit fund scam, top TMC leaders like Partha Chatterjee and state President Subrata Bakshi will travel to Bhubaneswar this Sunday to meet the incarcerated leader. Bandyopadhyay was taken to Bhubaneswar soon after he was arrested by […]

Rose Valley chit fund scam: TMC MP’s daughter appears before CBI

Bhubaneswar: Arrested Trinamool Congress MP Tapas Pal’s daughter Sohini Pal appeared before the CBI in Bhubaneswar today in connection with the Rose Valley chit fund scam. As per the CBI notice, Sohini arrived in Bhubaneswar today to appear before the agency. Tapas allegedly gave senior posts to his wife, daughter and nephew in Rose Valley […]

Tapas Pal
Arrested Tapas hints at Babul Supriyo links to Rose Valley scam

Bhubaneswar: Arrested Trinamool Congress (TMC) MP Tapas Paul today created ripples in the country’s political circle by alleging Union Minister Babul Supriyo is involved in the Rose Valley chit fund scam and has tricked him into the case. Replying to queries fielded by newsmen, Paul, while being taken on a three-day CBI remand starting today, […]

Rose Valley chit fund scam: ED attaches assets worth Rs 1,250 cr; 8 hotels

Kolkata: The ED today attached assets to the tune of Rs 1,250 crore, including eight hotels and a Rolls Royce luxury car, in connection with its money laundering probe in the Rose Valley chit fund scam case where thousands of people were allegedly cheated in West Bengal and Odisha. Officials said the agency issued a […]

HC grants bail to chit fund accused

Cuttack: Former Odisha Youth Congress chief Rajat Choudhury, arrested by CBI in connection with the multi-crore chit fund scam, was today granted conditional bail by the Orissa High Court. Choudhury was arrested in July for his alleged role in the scam and illegal collection of public money by Arthatatwa (AT) Group of Companies. Also Read:  Special […]

Special court makes first conviction in Odisha chit fund scam

Cuttack: The special chit fund court set up to conduct hearing on the multi-crore ponzi scam in Odisha, made its first conviction today. The court convicted chit fund company Shirdi Sai Real Estate’s MD, Prakash Panda. Panda has been sentenced to a jail term of 5 years along with a fine of Rs 3 lakh. […]

Chit fund scam: MLA Prabhat Biswal’s wife fails to appear before CBI

Bhubaneswar: MLA Prabhat Biswal’s wife Bilasini Biswal failed to appear before the Central Bureau of Investigation (CBI) today after being summoned by the central investigating agency in connection with multi-crore Seashore chit fund scam. According to sources, Bilasini sent her representative instead to appear on her behalf who submitted certain documents to CBI. On Saturday, […]

'The Parrot' Remains Firmly ‘Caged’!

By Sandeep Sahu The ongoing CBI investigation into the multi-thousand crore chit fund scam is fast turning out to be a theatre of the absurd. More than a year after it last questioned Balasore MP Rabindra Jena and Laxmibilasini Biswal, wife of Choudwar-Cuttack MLA Pravat Biswal, in connection with the Seashore case, the agency suddenly […]

Seashore scam: CBI summons MP Rabindra Jena, MLA Prabhat Biswal’s wife

Bhubaneswar: Central Bureau of Investigation (CBI) on Saturday summoned senior BJD leader and Balasore MP Rabindra Jena and MLA Prabhat Biswal’s wife Bilasini Biswal in connection with multi-crore Seashore chit fund scam. According to sources, the central probe agency has summoned the duo asking them to appear before it within two days. Also read: AT […]

Assets of Siridi Sai Estates to be sold in public auction

Cuttack: A designated court hearing cases on the chit fund scam in Odisha today ordered public auction of seized properties of Siridi Sai Estates Private Limited. The special court headed by an ADJ-rank judicial officer asked the competent authority (Cuttack ADM) to distribute the realised amount from the auction equitably among the investors in that […]

AT chit fund scam: Five get conditional bail from HC

Bhubaneswar: Five accused arrested in connection with the Artha Tatwa (AT) Group chit fund scam were granted conditional bail from the High Court today. The five were Manoj Das, owner of a TV channel, Bikash Swain, proprietor of an Odia daily newspaper, builder Vineet Lalani and AT Group directors Sambit Khuntia and Manoj Patnaik. The […]

Top CBI officials review progress in chit fund scam probe in Odisha

Bhubaneswar: Three top officials of Central Bureau of Investigation (CBI) on Wednesday visited the office of central probe agency here to review the progress of multi-crore chit fund scams in the state. According to sources, Additional Director of CBI Rakesh Asthana, SIT new joint director Nabin Singh and Anti-Corruption Joint Direct AK Singh visited the […]

CBI quizzes AT Group chief’s wife

Bhubaneswar: The Central Bureau of Investigation (CBI) today quizzed the wife of chit fund firm Artha Tatwa (AT) Group CMD Pradip Sethy here. She was questioned to find the illegal money trail of the AT Group. After being quizzed by the officials of the investigating agency for a while, she came out of the CBI […]

Chit fund scam: Duped investors seek confiscation of Raj Godson properties

Cuttack: About 30 duped investors from Baliapal in Balasore district, who had deposited money in Raj Godson Services Pvt Ltd, a chit fund company, today met Crime Branch Special DG, BK Sharma and submitted a memorandum to him. Talking to media persons, Arun Kumar Pradhan, a duped investor, said the company during its business in […]

Chit fund scam: Raj Godson CMD arrested in Balasore

Balasore: In yet another case in the chit fund scam in the State, Balasore police on Wednesday arrested the CMD of the Raj Godson chit fund firm Jagdish Mishra for allegedly duping people of around Rs 15 crore. The police arrested Mishra after the affected investors detained him and later handed him over to the […]

Sebi notices to 13 directors of Nabadiganta, Rightmax

CORRIGENDUM : – This news which was first published in our portal on August, 23, 2016, had wrongly mentioned Rabindra Jena as Balasore MP in place of a person having the same name from Brahmapur. But after crosschecking the news, we have corrected the news. We sincerely apologize for the mistake. Bhubaneswar: Taking note of […]

CBI grills BJD leader Prafulla Singh for 5 hrs

Former Cuttack District Working President Prafulla Singh was quizzed by the Central Bureau of Investigation (CBI) sleuths for five hours at the agency’s office here