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Chit fund scam: CBI raids 22 places in Odisha

IANS November 18, 2014 13:29 IST

Bhubaneswar: The CBI Tuesday conducted raids at 22 places in Odisha in connection with the Seashore Group's chit fund scam afffeccting thousands of depositors in the state.

The raids were conducted at 16 locations in Bhubaneswar, including Rajya Sabha member Pyarimohan Mohapatra's house. Also, four places in Cuttack and one each at Titlagarh in Bolangir district and Rourkela in Sundargarh district were searched,

Central Bureau of Investigation (CBI) sources said the houses and offices of the directors of the Seashore Group and senior government officials were also raided.

The Seashore Group is alleged to have duped people of about Rs.1,500 crore while it had signed MoUs with the Odisha government in the tourism, health and cooperative sectors.

Many political bigwigs along with some government officials are alleged to be involved in the chit fund scam.

The CBI had already arrested former BJP legislator Hitesh Bagartti and former BJD legislators Subarna Naik and Pravat Tripahty.