CBI arrests three in Odisha chit fund scam

The CBI Sunday arrested three people in Odisha in connection with a multi-crore-rupee chit fund scam.

Nabadiganta Capital Services CMD Anjan Kumar Baliarsingh and two directors Kartikeya Parida and Pradeep Patnaik were arrested by the Central Bureau of Investigation (CBI) after interrogation throughout the day.

A CBI official said Nabadiganta Capital Services illegally raised crores of rupees from people and duped depositors.

They will be produced before a CBI court, the official said.

Earlier in the day, the CBI interrogated Biju Janata Dal (BJD) parliamentarian Ramchandra Hansda, former BJD legislator Subarna Nayak and former BJP legislator Hitesh Bagarti for their alleged complicity in the scam. They were interrogated for two-hour.

The BJD and the Bharatiya Janata Party leaders denied any role in the scam.

"I was convinced by Baliarsingh and some associates to invest and join as the director in the company. I have a bond of Rs.3 lakh in the company. However, when I came to know that the company is raising public money, I resigned in 2012," said Hansda.

Hansda, who was grilled for four hours Friday, was questioned again about Rs.28 lakh cash seized by the CBI from his residence in Mayurbhanj district in July.

The BJD parliamentarian said it was his own money that he had kept for renovation of his home.

The two former legislators, who were directors in the company, also denied taking any money from the company.