Odisha Sun Times Bureau
Bhubaneswar, Apr 7:
A team of Central Bureau of Investigation (CBI) officials today conducted simultaneous raids on the residences of the top officials of Seashore Group of Companies in Odisha in connection with chit fund scam in Jharkhand.
The sleuths conducted raids on the Laxmisagar residence of Seashore Group of Companies CMD Prashant Dash and his ancestral house at Angul.
Besides, the officials also conducted a search on the residence of a woman director of the company at Palasuni in the capital city.
The raids were being conducted in association with the Ranchi counterparts of the agency pertaining to the alleged chit fund scam of Rs 70 lakh in neighbouring Jharkhand.
According to sources, raids continued for over six hours.
Notably, the CBI last year had filed a 276-page charge sheet in which it had named Seashore CMD Prashant Dash, his brother Pravat Dash and middleman Subhankar Nayak and accused the company of swindling Rs 578.20 crores.
While Prashant Dash was arrested by state Crime Branch from Mumbai on June 20, 2013 before the case was handed over to the CBI under Supreme Court order, Pravat accused of embezzling company funds to the tune of Rs 3 crores was arrested on January 24 last year.