Searches at 60 locations in Odisha and Mumbai in alleged multi crore chit fund scam

New Delhi, August 16, 2014: The Central Bureau of Investigation has today conducted searches at 60 locations including two each in Mumbai (Maharashtra); Berhampur (Odisha); Balasore (Odisha) and the remaining 54 in Bhubaneswar (Odisha) & adjacent areas at the office & residential premises of Odisha based Group of companies; their Directors & other office bearers and also of those companies / individuals who had close links with the said Group. The case has been registered against the said Group of Companies in the alleged multi-crore chit fund scam on the directions of Supreme Court of India and investigation has been taken up by the SIT of CBI.
Searches were also conducted in Mumbai (Maharashtra) at the office & residence of a Stock Broker who had allegedly obtained license from SEBI & MCX for the said Group of Companies and at the residence of one TV Serial Producer.
During searches, incriminating documents have been recovered.
CBI had registered four cases in West Bengal and 44 in Odisha this year in the multi-crore chit fund scam on the direction of the Supreme Court of India.
The investigation is continuing.
(SK Vyas/Jalandhar)