EOW seeks to confiscate assets of ponzi firms Greenray, Astha

Days before the next hearing on the PIL on chit fund scam in the Supreme Court , the Economic Offence Wing (EOW) of the Odisha Crime Branch police today sought permission of the Finance department to confiscate the properties of two chit fund companies Green Ray International and Astha International, said sources in the Crime Branch.

The two companies which are part of the grand multi-crore rupee chit fund scam in the state have allegedly defrauded depositors of more than Rs 500 crore, the sources added.

Earlier, the EOW had handed over documents of five chit fund companies Flourish India, Saradha Group, Sastra Enterprises Pvt Ltd, AT Group and Seashore Group to the Finance department for attachment of properties, the sources said.

The EOW has so far seized cash worth Rs 86 lakh, Rs 127 crore by freezing bank accounts, 203 kg silver, 1,583 kg gold and 22 four wheelers, the sources added.

Sources said the investigating agency has also seized land in the name of different companies which includes 204 acres from Seashore Group, 1,364 acres from Saradha Group, 234 acres from Artha Tatwa group and 24 acres from Flourish India.