Crackdown on Jana Mangala: CBI raids 6 places in Odisha

Reported by Santosh Jagdev
Bhubaneswar, June 4:

Central Bureau of Investigation (CBI) sleuths today conducted raids across six locations in Odisha against M/s Jana Mangala Agro Care, one of the 44 chit fund companies under the scanner of the central investigating agency.

A senior CBI official said raids were conducted at all the places where the company was doing business and has its offices, including Jajpur and Ganjam districts.

“In the Odisha chit fund scam, searches were conducted by CBI today against Jana Mangala Agro Care. All locations are in Odisha that is four places in Jajpur district and two places in Ganjam district,” said a CBI spokesperson in New Delhi.

The Ponzi company, which had its head office in Tarasingh in Ganjam district, has allegedly duped Rs 50 crore from the investors. It had branch offices in Puri, Kalahandi, Cuttack and khordha districts, CBI sources said.

The dubious company started its operations in Odisha in 2011. The agro company promised to provide agricultural equipment like water pumps, power tillesr, tractors, fertiliser spreaders and sowing machines and mowers for which it was collecting money from them. Besides, it had floated teak plantation schemes. It had various investment schemes requiring deposits of Rs 500 to Rs 85,000.

In 2013, the company vanished from the market after which investors lodged complaints at various police stations against it.