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Chit Fund Scam stemmed from popular BJD on its sponsorship

Chit Fund Scam stemmed from popular BJD on its sponsorship

Cuttack :18th Augst.2014: OBB: Srinivas Mohanty: With regard to scams in Orissa, it is mostly seen that the BJD led government has its sponsoring support in collection of money for chit funds. Funds sourced for chit fund could be traced its root to different corporate organisations while signing MoUs because at the time of signing MoUs  each corporate sector has made a under -table -contribution to the party and so also its leaders involved in the process.This apart fund collection for Chit fund led by Pradip Sethy is basically bureaucratized  through BJD party leaders and inside beauty of the party is that the party tickets is choice of bureaucrats to decide upon.

Crime BranchNo sooner the chit fund scam was surfaced,the BJD led Govt has set up crime branch inquiry headed by the Discretionary Quota beneficiary Mr.B.K.Sharma ,IPS  who has led the investigation to different direction not touching BJD leaders those who are brought to scanning by CBI with concrete evidence .Such situation now suggests Mr.B.K.Sharma,IPS  ought to be proceeded with for his questionable  suppressing of material facts in an important issues .Had there been proper investigation ,the BJD led govt would not have been voted to power marching over the honesty and rising popularity  of Modi led govt .

The Central Bureau of Investigation (CBI) probing into the multi-million crore chit fund scam in Odisha on Saturday raided two houses of senior Biju Janata Dal (BJD) MLA Pravat Tripathy for his alleged links with the Artha Tatwa Group.During his interrogation Sethy had said that several political leaders, bureaucrats and journalists had taken kickbacks from his company.The Artha Tatwa (AT) Group is among 44 firms under CBIscanner for duping thousands of investors in the state through fraudulent money circulation schemes.The central agency is understood to have seized some key documents during raids at Tripathy’s houses.Though Tripathy confirmed the raids, he denied seizure of documents from his residences.


Mr.Pravat Tripathy,MLA

  • Pravat Tripathy pleads
“The raids happened when I was not present at my house. But the CBI has not seized any document. I am not a beneficiary of any chit fund company. Since the CBI probe is on, let us wait till the investigation is completed”, the BJD MLA told reporters.

The CBI teams swooped down on the residence of Prabhat Tripathy, senior BJD leader and MLA, at Banki and Cuttack. The teams have reportedly seized several incriminating documents.

The raid on Mr. Tripathy’s residence indicated involvement of a number of politicians in the chit fund scam.

Rs 28 lakh seized

Earlier, the CBI had raided the house of BJD Lok Sabha member, Ramachandra Hansda, and seized Rs. 28 lakh of cash. Raids were also conducted at the house of Subarna Naik, a former BJD MLA and Hitesh Bagarti, a former BJP MLA.

The CBI, in a statement, said searches were conducted at Berhampur, Balasore and 54 places in Bhubaneswar and adjacent areas at the office and residential premises of Odisha-based group of companies, their directors, other office bearers and individuals who had close links with the group.

Office of Ashirbad Behera, Secretary of the Orissa Cricket Association, was also under the radar of the premiere chit fund scaminvestigation agency.Mr.Behera admitted to have enjoyed the chit fund money towards the benefit of OCA meaning thereby that the money sourced from corrupt practice is made white through Ashirbad Behera and this apart the fraud money remains in the hands of any persons he under the scanning of fraud procedure of penal provision and Mr. Behera’s innocent pleading is rather suicidal .Mr.Behera has become infamous for his allegedly taking over Barabati Stadium being his own property singing MoUs between father and son and has reduced the sports activities to a commercial complex of his own.

image20In similar sequence , high court corridor news suggests ,Justice Laxmikant Mohapatra having his own land and palatial building in the city of cuttack across CDA has on his high court letter head solicited for a plot in CDA and discretionary quota and after having availed the same constructed his building over there and sold the same to Pradip Sethy ,the AT Group head at a higher price than that of the prescribed limit of CDA authority .Under the circumstances ,suspicion arises about the deal of such land and the mediation and to link it as to whether any case matter has ever come before the judge concerned in connection with AT Group or Pradip Sethy .The sale of such land is questionable on account of its lacking CDA approval and the nexus of Justice L.K.Mohapatra with the group is worth investigating in the larger interest of the image of judiciary

About The Author

Srinivas Mohanty Chief Managing Editor Odisha Bulletin

The CBI teams also targeted Artha Tatwa Group, which allegedly mopped up around Rs. 500 crore from small time investors. The Group had owned a team in Odisha Premiere League. OCA Secretary’s office was raided to dig out information in connection with AT group’s participation in OPL.


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