Home ODISHA LATEST Odisha chit fund scam: CBI gets Subhankar Nayak on 9-day remand

Odisha chit fund scam: CBI gets Subhankar Nayak on 9-day remand

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Reported by Santosh Jagdev
Bhubaneswar, Nov 19:

The special Chief Judicial Magistrate (CJM) court here today allowed the CBI to take land broker Subhankar Nayak, who was arrested yesterday in connecetion with the multi-crore chit fund scam in Odisha, on remand for nine days for further interrogation. The CBI had sought a 10-day remand for him.

Pic: Biswaranjan Mishra
Pic: Biswaranjan Mishra

He would be produced in the court on November 27 at the end of his remand period, the court ruled. The bail petition moved by Nayak’s counsel would also be heard on the same day, the court said.

Nayak was arrested by the CBI on Tuesday for his alleged links with the Seashore Group. His house in Chandrama Apartments in Kharavela Nagar here was raided by the agency earlier in the day for his questionable links with the Seashore group.

During its raid on Nayak’s house, the CBI seized several incriminating documents, besides two gold biscuits and Rs 15 lakh in cash, sources in the central agency said.

“He was arrested on the basis of the documents seized from his residence during the raid, which prima facie establish the fact that he was acting as a conduit for channelization of money from the Seashore group,” a CBI officialhad said on Tuesday.

He was an influence peddler and acted as the middleman between Seashore and top bureaucrats, the sources added.