CBI conducts searches in Odisha over chit fund scam

Bhubaneswar: A Special Investigation Team (SIT) of the CBI on Tuesday conducted simultaneous searches at nine places in Odisha in connection with the chit fund scam involving Safex Infra India Private Ltd.

IANS| Last Updated: Jan 13, 2015, 14:41 PM IST

Bhubaneswar: A Special Investigation Team (SIT) of the CBI on Tuesday conducted simultaneous searches at nine places in Odisha in connection with the chit fund scam involving Safex Infra India Private Ltd.

The searches were conducted in four districts of Balasore, Ganjam, Sambalpur and in Bhubaneswar in the Khurdha district, said sources in the Central Bureau of Investigation.

The teams raided the head office and branch offices of the chit fund company located in Bhubaneswar and other three districts.

The Economic Offence Wing (EOW) of the Odisha Crime Branch, which was probing the chit fund scam, earlier arrested eight officers of Safex Infra and took control of 12 acres of land of the firm. Besides, it also seized a bank account of Rs.5 lakh last year.

The SIT is probing the chit fund scam in the state following a Supreme Court order.