Seashore Chit Fund Scam: company chief Prashant Dash's wife arrested

Bhubaneswar, June 7: Acting on a warrant case issued by the Rourkela SDJM court, the commissionerate police today arrested Jyotirani Sarangi, wife of Seashore group Chief Prashant Dash, for her alleged role in duping investors of crores of rupees in Rourkela.

Acting on a tip off, Laxmisagar police this evening nabbed Ms Jyotirani from her room located in Majestic Apartment of Laxmisagar area following a raid. 

Police sources said, she had duped investors crores of rupees by collecting small deposits promising them to provide high returns on the sum.

Though the local police here refused to divulge details about the case, sources said the company had opened a branch at Civil Township in Rourkela and had cheated investors operated by the accused. She had played one of the directors in the branch.

Aggrieved on the Seashore officials, who had failed to return the money collected by the company, the investors had lodged three complaints separately at the Raghunathpalli police station in Rourkela in 2012 but in vain. Later the court had issued a warrant case against the absconder. By the time, she had left the steel city and had come to Bhubaneswar.

Meanwhile the Rourkela police had circulated the information about the lady to all police station in the state.

Notably, on December 21, 2014, the Central Bureau of Investigation (CBI) had quizzed Ms Jyotirani for hours in the multi-crore chit fund scam.

Jyotirani, a member of the board of directors of the company, was interrogated about the transfer of money from the company’s accounts to her personal account in the immediate aftermath of Prashant Dash’ arrest by the Crime Branch last year, CBI sources had said.

On June 20, 2013, the Crime Branch had arrested Prashant Dash from Mumbai.