Bhubaneswar: The CBI on Saturday brought Niranjan Saxena, executive director of Nirmal Infra, from Madhya Pradesh to Bhubaneswar on transit remand in connection with the multi-crore chit fund scam.
Soon after arriving in the Odisha capital, the CBI produced Saxena before a local court. He was later sent to the Jharpada jail after the court rejected his bail plea.
According to CBI, Saxena and his company had duped the investors of about Rs 433 crore promising them high returns. Apart from Odisha, the company had its chit fund business in other states.
The CBI had arrested the CMD of the Nirmal Infra, Ashish Chouhan and general manager Abhisekh Chouhan in Bhubaneswar on March 7 this year.
The Bhopal-based Ponzi firm had claimed that it had business in real estate, apparel manufacturing, mineral water, consumer durables, hotels and resorts.
Tags: chit fund
