The Enforcement Directorate, probing the multi-crore chit fund scam, on Friday issued second attachment order for the Seashore Group’s properties worth Rs.84 crore.
Of total Seashore properties, the ED has moved to attach immovable properties worth Rs.81 crore and Rs.3.25 crore in cash.
As per the order issued by Himanshu Lal, Joint Director of ED, Kolkata, while immovable properties under control Bhubaneswar Institute of Technology (BIT) is worth Rs.9 crore, value of lands belonging to Seashore Group in Angul, Cuttack, Sambalpur and Bolangir district and a flour Mill at Cuttack is estimated at Rs.72 crore.
The Central Bureau of Investigation, which is probing chit-fund scam on the direction of Supreme Court, had earlier unearthed that Seashore Group’s chairman and managing director Prashant Dash had invested Rs.9 crore in BIT.
This is the second attachment order issued by ED under the Prevention of Money Laundering Act (PMLA). Earlier the directorate had attached Rs.158 crore of properties.
Seashore Group is the leading Odisha-based ponzi company, which is accused of embezzling funds worth more than Rs.1,000 crore from low income investors in the State.
The ED in course of its investigation had found that Seashore Group had floated 24 companies and 12 co-operative societies through which it had duped thousands of investors. Most of the schemes floated by the group had promised high returns and interests on investment.
The CBI has arrested many influential persons for their connection with the group. Dash has also been grilled by the CBI. In the ongoing chit fund scam probe, the ED had earlier attached properties worth Rs.296 crore belonging to Rose Valley group. The ED is now investigating into money trail of Artha Tatwa Group, which has been in news for its link with top politicians in the State.
