Reported by Santosh Jagdev
Bhubaneswar, Aug 7:
The CBI team investigating into the chit fund scam in Odisha today conducted raids on different offices of Green India Finance (GIF), a chit fund company.
Nine teams of CBI conducted simultaneous raids at the branch offices of GIF and the residences of company directors Pradeep Singh at Ayodhya Nagar and Suneel Panda at Ashok Nagar in Berhampur city in Bhubaneswar and Berhampur , sources said.
The company had allegedly duped several gullible investors of crores of rupees through fixed deposit, recurring deposit (RD), by promising to provide houses and land loans etc under different schemes floated by it, the sources added.
The sources also said the CBI found several incriminating documents from the offices and houses of the directors of the company during the raids.
It may be recalled here that 60 investors of Berhampur had lodged a complaint with the Berhampur Town police station against the chit-fund company on August 4, 2013.
In the complaint, the investors had alleged that the firm had duped them of Rs 5 crore.