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Odisha chit fund scam: ED to confiscate properties of people with AT link

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Odisha Sun Times Bureau
Bhubaneswar, Jan 18:

After attaching the properties of chit fund firm Artha Tatwa Group, a major player in the multi-crore chit fund scam in Odisha, the Enforcement Directorate (ED) is in the process of confiscating the properties of persons having links with the tainted firm, an official said.

CHIT FUND SCAMAccording to sources, the ED has confiscated the properties of AT Group chief Pradeep Sethi and has recently seized properties to the tune of Rs 25 crore.

Besides, the movable and immovable properties of people having done transactions with AT Group will be confiscated for refund of money to the investors, as per the Odisha Protection of Interests of Depositors (in Financial Establishment) Act, 2011.

Notably, the company is one of the prominent business groups among 44 ponzi companies operating in the state which are under the scanner of CBI and ED after an order of the Supreme Court. The AT Group is accused of duping numerous investors belonging to the state and a few others from eastern region.