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Documents on 44 Odisha ponzi firms handed over to CBI


Reported by Santosh Jagdev
Bhubaneswar, May 27:

The Economic Offence Wing (EOW) of the Odisha Crime Branch today handed over the documents of 44 chit fund companies operating in the state,  including Artha Tatwa Group, Seashore group,  Saradha Group of companies, Greenray and Adarsh Group, to the Special Investigation Team (SIT) of the Central Bureau of Investigation (CBI) probing the Odisha ponzi scam.

CHIT FUND SCAMThe documents, which relate to as many as 203 cases registered against the directors and officials of these chit-fund companies,  the details of arrests made and charge sheets, were mailed to the national investigating agency.

Besides, the EOW has also sent details of the chit-fund companies’ bank balance, properties including houses, lands, vehicles and jewellery seized during raids and information on the inter-state links of the firms. All these important documents were sent to the SIT office in Kolkata, a top official of the EOW said.

Earlier the CBI Joint Director and head of SIT, Rajeev Singh, had met with top bureaucrats of the state and sought their support in setting up an office in Bhubaneswar for the SIT at the earliest  to help expedite the probe process.

SIT had asked for an office space and vehicles along with other logistic and infrastructure facilities for the smooth functioning of its office in the city. It had also asked for deployment of Odisha police personnel for the protection of their officials who would conduct the probe.

The CBI probe into the huge money laundering scam involving these 44 companies as well as others operating in Odisha.was ordered by the Supreme Court .


  1. Commissionerate Police(Local Police) was doing investigation of Artha Tatwa Chit Fund scam and Odisha Crime Branch was doing investigation of rest all Chit Fund Companies who were involve in this mega scam.

    Artha Tatwa Groups was given enough time and opportunity to destroy a lot of information and documents related to its business which would have helped Commissionerate Police and CBI in investigation. It is not yet known why the government had handed over Artha Tatwa Chit Fund Company investigation to Commissionerate Police instead of Crime Branch or CBI and who is behind this conspiracy!


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