CBI probe ordered into Balasore Chit Fund Scam
TNI Bureau: Days after the Balasore Chit Fund scandal hit the news headlines, the Orissa High Court ordered CBI probe into the multi-crore scam. The agency has been directed to submit the status report on the investigation within three months.
A division bench headed by Chief Justice V Gopalagowda and Justice BN Mohapatra directed the State Crime Branch to assist the CBI in the probe. The court said that the amount would be refunded to the depositors after the probe is over.
The order came on the petition filed by All-India Networkers Welfare Trust, Bengaluru that alleged that the money was invested in a private financial company Fine India Sales, which was operating from Balasore, Odisha. The petition alleged that thousands of people, mostly belonging to lower-middle class invested money in the firm after being influenced by the offer of the firm. However, the firm appeared as fake and defrauded the investors.
Earlier, the court had directed the SP, Crime Branch, Axis and ICICI Banks to freeze the accounts of the firm and the money should be seized by the crime branch.