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Court expedites trial

.........BHUBANESWAR: Expediting trial in Nabadiganta chit fund scam, the CBI court here recorded statements of five depositors of the ponzi firm and two police personnel on Wednesday. The trial will continue till April 21 during which another 10 witnesses are likely to appear before the court. Mayurbhanj MP Ramchandra Hansda and former MLAs Subarna Nayak and Hitesh Bagarti were arrested by the CBI for their alleged links with the chit fund firm. Nabadiganta Capital Services Ltd raised `15 crore between 2011 and 2013 from the public by promising high returns. However, the company managed to return only half the amount before its assets were seized by Crime Branch following complaints from around 20,000 duped depositors. The chairman-cum-managing director of the company Anjan Kumar Baliarsingh and two directors Kartikeya Parida and Pradeep Patnaik were arrested by CBI in 2014. The Central agency had filed chargesheet in connection with the fraud in 2015 naming six persons, including the three politicians, for duping investors of more than `8 crore.



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News Updated: 4/20/2017 8:49:22 AM.

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