ED attaches former Odisha MLA Pravat Biswal’s property worth Rs 3.92 cr

Cuttack: The Enforcement Directorate (ED) on Saturday attached property worth over Rs 3.92 crore of former Cuttack-Choudwar MLA Pravat Biswal in connection with multi-crore chit fund scam.

As per sources the enforcement wing attached movable and immovable assets worth Rs 3,92,20,000 belonging to the ex-MLA under Prevention of Money Laundering Act (PMLA), 2002.

“ED has provisionally attached movable and immovable assets worth Rs 3,92,20,000 belonging  to Pravat Ranjan Biswal and Media Guru Consultants Pvt Ltd under PMLA 2002, in a pozi scam case. With this, value of total attached property in this case rose to Rs 261.92 crore,” said a released issued by the ED.

Earlier in September, 2017, the Central Bureau of Investigation (CBI) had arrested Pravat Ranjan Biswal in connection with Seashore chit fund scam.

The company fraudulently collected huge amounts from the general public, of which Rs  25 lakh was diverted to the ex-MLA and his family members and ₹ 4 crore was diverted to Media Guru Consultants Pvt Ltd to set up a news and current affairs TV channel named STV Samachar. the ED said.

Further investigation into the case is under progress.

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