Chit fund scam: AT group chief held, sent to jail
Bhubaneswar: Chief of controversial non- banking financial institution (NBFI) Artha Tatwa (AT) group Pradip Sethi, was arrested and sent to jail today on charges of cheating investors in different parts of Odisha.
Sethi, who was playing hide and seek with police for the past three months, was finally nabbed last night and produced in a court on Monday.
"Sethi has been remanded to judicial custody for 14 days," a police officer said. "There are 11 criminal cases against Sethi in different police stations including three in Bhubaneswar. AT group has allegedly taken deposit of Rs 1.5 crore from the capital city," said Bhubaneswar DCP Nitinjit Singh adding that cases have been registered against him in Balasore, Kandhamal, Ganjam, Khurda, Mayurbhanj and some other districts.
Before being whisked away by the police, Sethi told reporters that AT group had taken help of certain politicians and other influential persons.
"Definitely they are involved," Sethi told reporters replying to a question on whether MLAs and ministers were also helping him in the illegal business.
Preliminary investigation by police showed that Sethi`s AT group has allegedly duped investors to the tune of Rs 130 crore.
A retired DIG of Police on February 7, 2013 was the first to file an FIR against AT group for duping him of Rs 17 lakh at Kharvel Nagar police station here.
More from India
More from World
More from Sports
More from Entertaiment
- No trace of IAF's AN-32 aircraft and survivors
- Rio Olympics 2016: NADA to take decision on Narsingh Yadav's fate today
- Intruder who ‘spiked’ wrestler Narsingh Yadav’s food identified: Sources
- China increases soldiers at Ladakh's Pangong Lake
- Madhya Pradesh: Two women assaulted at railway station for carrying beef
- North Korea floats propaganda leaflets in river for 1st time
- WATCH: Chilling video of Gwalior road mishap and miraculous escape of two scooty riders
- 'Sultan' moment: Salman Khan, nephew Ahil clicked in wrestling mood
- Palestinian killed in exchange of fire with Israeli army
- Girl commits suicide after being ragged in Kerala, three final year students arrested