Odisha chit fund scam: CBI raids Green India offices, homes of its officials

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Bhubaneswar, Aug 7: The CBI team today conducted raids on different offices of Green India Finance (GIF), a chit fund company.

Nine teams of CBI conducted simultaneous raids at several places in Bhubaneswar and Berhampur branch offices of GIF and the residences of company directors Pradeep Singh at Ayodhya Nagar and Suneel Panda at Ashok Nagar in Berhampur city, sources said.

The company had allegedly duped several gullible investors of crores of rupees through fixed deposit, recurring deposit (RD), in providing house and land loans and different products under different schemes created by it, sources added.

Sources stated that the CBI has found several incriminating documents from the offices and houses of the directors of the company during sudden raids which would be help for them during investigation.

60 investors of Berhampur area had lodged a complaint with the Berhampur Town police station against the chit-fund company on August 4, 2013 acting on which the CBI sleuths conducted raids. In the complaint, the investors had alleged that the firm had duped them of Rs 5 crore.

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