Odisha Sun Times Bureau
Cuttack, Nov 23:
The designated court hearing cases on the chit fund scam in Odisha’s Cuttack today ordered for the confiscation of properties belonging to Ponzi firm Shiridi Sai Estates Pvt Ltd.
The designated court ordered for public auction of moveable and immoveable properties valued at about Rs 26 lakh belonging to the Ponzi firm and distribute the proceeds among the duped investors, reports said.
The properties include two luxury vehicles, reports added.
Notably, the Ponzi firm had allegedly duped investors of over Rs one crore by opening a branch at Soro in Balasore district.