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Saradha Ponzi Case: First Chargesheet Filed by ED

01 April 16

Only days before West Bengal goes to Assembly polls, the Enforcement Directorate (ED) filed its first chargesheet on 31 March in the multi-crore rupee Saradha chit fund scam case, naming ex-Trinamool Congress, MP Srinjoy Bose, and Chairman of the now-defunct group head Sudipta Sen, among others. The over-10,000-page charge sheet, also called the prosecution complaint by ED, was filed before a special sessions court. ... Read More

ED moves court over Seashore property

01 April 16

Bhubaneswar: The enforcement directorate (ED) on Thursday moved the Khurda sessions court here, seeking confiscation of Seashore Groups assets worth nearly Rs 242 crore. Seashore Group, one of the 44 chit fund companies, whose alleged scams are being probed by the CBI, is accused of cheating investors of more than Rs 500 crore. "We lodged complaints against the company's managing director, Prashant Dash, and his brother Pra ... Read More

Odisha chit fund scam: HC rejects bail plea of Madhu Mohanty, Hansda

29 March 16

Cuttack: The Orissa High Court today rejected the bail plea of businessman and proprietor of Odia daily ‘Odisha Bhaskar’ Madhu Mohanty, who was arrested by the Central Bureau of Investigation (CBI) for his alleged links with the Ponzi firm Artha Tatwa (AT) Group. ... Read More

Investors of chit fund picket collector's car

29 March 16

Vellore: Residents of Poigai picketed Vellore collector R Nanthagoapl's car in front of the collectorate on Monday demanding action against a couple for duping crores of rupees by running a chit fund firm. The villagers demanded the Collector to get back their money from S Siva, owner of Sri Jalagandeswarar Auto Finance and Chit and native of Poigai village. The collector, how ... Read More

Chit Fund Scam: Odisha Police arrests Safex Infra MD Firoz Khan

21 March 16

Bhubaneswar: Odisha police on Sunday arrested Firoz Khan, managing director of Fraud Chit Fund Company Safex Infra India Pvt Ltd. Saheed Nagar police arrested Khan from Bhubaneswar for cheating investors of over Rs 15 crore promising them of high returns. Police were on the lookout for Khan wh ... Read More

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