CBI raid on ‘Sastra Enterprises’ offices in Odisha
Odisha Sun Times Bureau
Bhubaneswar, Jul 5:
The Central Bureau of Investigation (CBI) today conducted simultaneous raids on the offices of Chennai-based Ponzi firm Sastra Enterprises Pvt Ltd in nine places across the country including Odisha.
The CBI conducted raids in Chennai, Tripura, and Madurai including Bhubaneswar, Baripada, and Bhadrak in Odisha.
Sources revealed the CBI has seized several incriminating documents during the raids.
The Chennai-based Ponzi firm has duped crores of rupees from gullible investors in Odisha through different schemes by promising lucrative rates of interest.
The company had widespread operations especially in Balasore and Bhadrak and Mayurbhanj districts in the state. It collected crores of rupees by luring people on the pretext of hefty returns in a short span of time. It closed down offices in 2010. The company has allegedly collected over Rs 150 crores from Odisha alone.
The company’s managing director V. Sampath was arrested in May 2013 from Chennai is currently lodged in Bargarh jail.
Comments are closed.