CBI takes newspaper owner, ponzi company chief on remand

A local court today allowed CBI to take two persons, including the owner of an Odia daily, on remand for 14 days for their alleged involvement in the multi-crore rupee chitfund scam in Odisha.
Chief Judicial Magistrate Padmalochan Satpathy remanded Bikas Swain, the daily owner, and Ranjan Das, a former chief of Swastik India Multi-purpose Credit Cooperative Society, to CBI custody for 14 days.
The two were arrested by CBI yesterday for their alleged link with Artha Tatwa Group which allegedly duped investors of crores of rupees.
The court also rejected the bail petitions of Artha Tatwa Group CMD Pradip Sethy and accountant Srikrushna Padhi.

CBI has registered 44 FIRs in Odisha against as many chit fund companies.
The Supreme Court had handed over the Saradha chit fund scam to CBI and directed the state governments to provide all logistical help to the agency probing the matter.