ED attaches Rs.84 crore worth Seashore property in Odisha

The Enforcement Directorate (ED) Friday attached properties worth Rs.84.5 crore of chit fund firm Seashore Group in Odisha under the Prevention of Money Laundering Act, an official said.

The properties include land and buildings of the Bhubaneswar Institute of Technology.

The company had invested almost Rs.9 crore in the institute where some government officials were members of the governing body, said an ED official.

ED also attached land in Angul, Sambalpur and Bolangir districts and a roller mill in Cuttack.

It also attached bank deposit of the company amounting to Rs.3.25 crore, said the ED official.

In December 2014, the investigating agency had attached properties worth over Rs.158 crore of Seashore company in the state.

It had attached nearly 90 acres of land in Angul, Bhadrak, Mayurbhanj and Puri districts. Besides, at least two quintals of silver coins and 1.38 kg of gold coins worth about Rs.1.1 crore were also seized.

Prasant Dash, Seashore Group CMD had floated 24 companies and 12 co-operative societies through which it duped thousands of investors.

Dash is in jail after he was arrested by the crime branch of Odisha Police in June 2013.