Odisha

ED Raids 10 Places In Odisha Over Rs 900 Cr Chit Fund Fraud

Bhubaneswar: The Enforcement Directorate (ED) on Thursday carried out raids at 10 places in Odisha, including Berhampur, Digpahandi, Chikiti and Bhubaneswar, in connection with an alleged Ponzi scam to the tune of Rs 900 crore.

According to sources, simultaneous searches are also underway at properties linked to Delhi-based Golden Land Developers Limited and houses of its director, manager and other officials in Odisha.

In 2013, the Delhi-based firm was booked in six cases for cheating depositors to the tune of several crores. The Crime Branch had seized some assets of this chit fund company and Cuttack ADM auctioned landed property of the chit-fund company to the tune of 2 acres and 93 decimal in Chhatrapur and Chikiti tehsils of Ganjam district, respectively, in June 2016. Around 4.72 lakh applicants have applied to the state government for refund of their money.

 

OB Bureau

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