Chit fund scam: CBI conducts raids on banks

Searches of houses of politicians and journalists likely in the coming days

August 21, 2014 08:18 am | Updated 08:18 am IST - BHUBANESWAR:

Officials of the Central Bureau of Investigation continued with their raids in connection with the multi-crore chit fund scam on Wednesday.

A four-member team of the premier investigating agency conducted raids on the Banki branches of Odisha Gramya Bank and two other banks in the area in Cuttack district.

According to sources, the raids were linked to the raid on the house of Subas Padhi, a Biju Janata Dal leader and seizure of several documents from his house on Monday.

Mr. Padhi is a close associate of senior BJD leader and Banki legislator Pravat Tripathy. He was questioned by the CBI officials during the raids in connection with the financial irregularities committed by Artha Tatwa Group.

Sources said that the CBI teams were likely to conduct raids on the houses of more politicians and other prominent persons, including some journalists, in the coming days.

The CBI was also looking into the allegation that the State police had made attempts to allow several bigwigs to escape from the chit fund scam probe.

The investigating agency is likely to question a number of politicians, most of them belonging to the BJD, sources added.

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