ED raid at locations associated with Artha Tatwa Group in Odisha; cash, jewellery & luxury car seized

Bhubaneswar: The Enforcement Directorate (ED) has carried out search operations at various locations in Odisha in connection with the multi-crore chitfund scam in the state.

The ED sleuths carried out search operations at various locations in connection with the scam committed by ponzi firm Artha Tatwa (AT) Group in Odisha.

During the search operations, the sleuths have seized Rs 23 lakh in cash, an Audi car worth around Rs 35 lakh, jewellery worth Rs 24.15 lakh, various incriminating documents and digital devices, said the ED in a Twitter (X) post today.

The ED initiated the investigation on the basis of FIRs registered against the AT Group by the CBI under various Sections of IPC.

The investigation has revealed that the AT Group of Companies had collected deposits worth crores from public without any due permission from the regulatory authorities.

The ponzi firm had formed several real estate companies and other interconnected entities to commit the scam, said the ED in a statement today.

Till date, assets worth Rs 135 crore of the ponzi firm have been attached by the ED. Besides, three prosecution complaints have been filed against 15 accused persons and entities, it added.