Odisha Seashore Chitfund scam case: BJD MLA Prabhat Biswal arrested by CBI in Cuttack

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New Delhi | Updated: September 19, 2017 10:26:30 AM

Odisha Seashore Chitfund scam case: BJD MLA Prabhat Biswal was arrested by CBI in Cuttack, according to ANI report. Notably, on August 18, the Orissa High Court had granted bail to Seashore Group of Companies CMD Prashant Dash in a chit fund related case.

Seashore Chitfund scam, Odisha Seashore Chitfund scam, BJD, Cuttack, Odisha Seashore Chitfund scam case: BJD MLA Prabhat Biswal was arrested by CBI in Cuttack, according to ANI report. (ANI image)

Odisha Seashore Chitfund scam case: BJD MLA Prabhat Biswal was arrested by CBI in Cuttack, according to ANI report. Notably, on August 18, the Orissa High Court had granted bail to Seashore Group of Companies CMD Prashant Dash in a chit fund related case. Dash was arrested by the CBI from Mumbai in December 2013 for allegedly duping hundreds of poor people, who had invested over Rs 500 crore in his company hoping for better returns. The Bench of Justice C R Dash granted bail to Dash and directed him to deposit his passport with the Investigating Officer (IO). The court also told Dash not to visit places outside the state without prior permission from the IO. However, Dash, who was lodged in a Bhubaneswar jail, was unlikely to walk free immediately as there are several other cases registered against him, as per PTI report.

Earlier on Jan 12, the CBI had carried out searches at 36 locations in Odisha in connection with the Seashore Group ponzi scam. CBI sources had then told PTI that some places belonging to “important persons” were among the locations searched. The agency has already filed charge sheet against CMD of the Seashore Group of companies Prashant Kumar Dash and others, the sources said. They said searches are being conducted as part of the probe into a case registered against the Seashore Group as per warrants issued by a special court. The case is part of 44 FIRs registered in connection with the chit fund scam on the orders of the Supreme Court in 2014.

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