In what could be indicative of direct involvement of politicians in multi-thousand crore chit fund scam in Odisha, Central Bureau of Investigation on Thursday seized cash of Rs. 28 lakh from residence of sitting Biju Janata Dal Lok Sabha Member.
CBI teams began raids as part of its investigation into chit fund scam on the directions of the Supreme Court.
Investigators conducted raids in house of BJD MP from Mayurbhanj, Ramachandra Hansdah and found cash of Rs. 28 lakh and ornaments. Subarna Naik, a former BJD MLA from Keonjhar, also came under scanner of CBI. Moreover, houses of former Bharatiya Janata Party leader Hitesh Bagarti were also searched. Raids were conducted in Bhubaneswar and their native places.
The company, these politicians were accused to be involved in, was Nabadiganta Capital Services Private Limited.
According to CBI, 20 different locations, including residential and office premises of founder members, directors, office bearers and other employees of the Bhubaneshwar-based private company were searched.
“A lot of incriminating documents have been seized, cash of Rs. 28 lakhs from the founder member and fixed deposit of Rs. 22 lakhs and cash of Rs. 4.90 lakhs from another founder member of said private company have been recovered,” said the premiere investigating agency on Thursday.
CBI had so far registered 47 cases, including three in West Bengal and 44 in Odisha in the alleged chit fund scam on the directions of the Supreme Court of India. Official estimates says chit fund scam involves nearly Rs. 5000 crore. However, a citizens forum fighting for expeditious refund of investment made by general public, says money involved in the scam would exceed Rs. 60,000 crore.
Lakhs of investors mostly from lower income groups had invested their hard-earned money in the money circulation schemes. However, promoters of this chit fund companies, who had promised high return on investment, had gone into hiding when investors demanded their money back.
Although it was alleged that influential politicians had heavily invested in the chit fund companies and enjoying luxurious cars free of cost, Thursday’s CBI raids exposed direct links of politicians in the scam.
