The Central Bureau of Investigation probing into the multi-crore chit fund scam on Saturday arrested Pravat Dash, brother of Prasant Dash, chairman and managing director of the tainted ponzi firm Seashore Group.
Pravat was director in at least 15 sister concerns of Odisha-based Seashore Group, which had swindled crores of investment made by gullible low income investors in the State.
In the morning, the CBI quizzed him for about two hours. He was facing charges of receiving funds from Seashore Group, besides his involvement in criminal conspiracy. He was also interrogated on Friday.
The CBI had detected a transaction of Rs.2.5 crore in his account. The amount was said to have been transferred to his account in connection with Seashore’s business deals.
Sources in the CBI said, Pravat was confronted with evidence and bank officials also corroborated the CBI’s findings. One of his lawyers said his client was not involved in any illegalities as money was deposited in his account in connection with a land deal in Angul district.
The lawyer said Pravat was granted bail by the Odisha High Court when the Economic Offence Wing of State Crime Branch of Police was investigating into Seashore Group’s operation.
The EOW had registered 23 cases in connection with the Seashore Group.
Pravat was produced before the Special CJM (CBI) Court, which remanded him to the CBI custody for seven days. The Seashore Group is one of the leading firms which were allegedly cheated gullible investors.
