CBI raids former MD's house in chit fund scam

The Central Bureau of Investigation (CBI) on Monday raided the residence of D P Mishra, former managing director of Micro Finance, an Odisha based chit fund company currently under investigation by the central probe agency.


Sources said, the CBI sleuths seized several important documents during the one and a half hour long search in Mishra’s residence located in Patia area of the city here.

He was not at home when the raid was on.

The CBI officials questioned some family members. Earlier, the investigating agency had summoned one of the directors of the tainted chit fund company and interrogated him at its local office here.

Meanwhile, in another development, a district and sessions court here on Monday rejected the bail application of the arrested senior Biju Janata Dal (BJD) legislator, Prabhat Tripathy, who is currently lodged in Jharpada prison here.

The CBI a few days back had arrested Tripathy for his alleged links with Artha Tatwa (AT) group, a tainted Odisha based chit fund company currently under investigation. The senior law maker has already been suspended from the ruling BJD. He had moved the court for bail on health grounds.

The CBI on Monday also summoned and questioned Ashok Choudhury, a deputy director of state government run Odisha Renewable Energy Development Agency (OREDA) for its reported business links with Seashore group, another state based blacklisted chit fund company currently under the scanner of the probe agency.
 The Seashore group had reportedly signed a MOU with the state PSU for a solar plant at Titlagarh in western Bolangir district.

More than 40 chit fund companies in Odisha are currently being investigated by the CBI under the direction of the Supreme Court in connection with the multi-crore scam.

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