Odisha Seashore chit fund scam: CBI arrests BJD MLA Prabhat Biswal

Seashore Group is one of the 44 ponzi companies in Odisha which came under the scanner of CBI and ED following a Supreme Court order.

IndiaToday.in  | Edited by Shashank Shantanu
New Delhi, September 19, 2017 | UPDATED 08:54 IST
CBI arrests BJD MLA Prabhat BiswalThe CBI had carried searches at numerous locations across Odisha in January in connection with the scam. (File Photo)

Highlights

  • 1
    CBI arrests BJD MLA Prabhat Biswal.
  • 2
    Biswal arrested in connection with multi-crore chit fund scam.
  • 3
    Biswal's wife also quizzed by the CBI.

The Central Bureau of Investigation (CBI) has arrested ruling Biju Janata Dal (BJD) MLA Prabhat Biswal in connection with the Rs 500 crore Seashore Group chit fund scam.

The Choudwar-Cuttack legislator was picked up by the central agency late on Monday night. Biswal and his wife  were quizzed by the CBI in November last year over a land deal with Seashore Group chief Prashant Dash.

The CBI had carried out searches at 36 locations across Odisha in connection with the ponzi scam.

The agency has already filed charge sheet against CMD of the Seashore Group of companies Prashant Kumar Dash and others.

Seashore Group is one of the 44 ponzi companies in Odisha which came under the scanner of CBI and ED following an order of the Supreme Court to probe their finances and transactions.

ED registered a case against it in 2014.

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