Odisha Police Friday initiated the process of confiscating properties of Bhubaneswar based Sai Pragati group in connection with four cases of money laundering and chit fund scam, an official said.
“The police crime branch submitted a proposal to the state government seeking interim orders for attaching properties of the group,” Deputy Inspector General of the economic offences wing (EOW) at the crime branch, Rajesh Kumar, told IANS.
“The group, which was operating in Odisha since 2009, has allegedly duped thousands of investors in the state. Two years ago, the crime branch sealed several offices of the group and arrested its managing director Debashish Mohanty,” he said.
“Police also subsequently seized 47 acres of land owned by the group, mostly in Puri, Balasore and Khurda districts. The group has Rs.2.77 crore in 14 bank accounts and it was seized, he said.
“We have submitted a proposal to the state government seeking interim orders for attaching the properties of the group in the state,” Kumar said.
The crime branch has so far submitted proposals seeking attachment of money and properties of a total of 14 companies including the Bhubaneswar-based Seashore Group and Kolkata-based Saradha group in the multi-crore-rupees chit fund scam.
“The state government has so far issued interim orders for attachment of properties of 11 companies worth more than 200 crore rupees,” he said.
(IANS)