Nirmal Infra ED arrested in Odisha chit fund scam

Bhubaneswar: In ongoing probe into multi-crore chit fund scam in Odisha, the CBI arrested Niranjan Saxena, the executive director of Nirmal Infra Home Corporations Limited, from Madhya Pradesh.

Saxena and his firm are accused of duping investors of Rs 433 crore alluring them of high returns.

The CBI sleuths brought the accused on transit remand to Bhubaneswar for interrogation following arrest in Madhya Pradesh.

Earlier, the CBI had arrested the CMD Ashish Chouhan and General Manager Abhisekh Chouhan of the ponzi firm on March 7 this year in Bhubaneswar.

The chit fund company Nirmal Infra allegedly duped millions of investors in Odisha and other states.

The Bhopal-based claimed that they had business in real estate, apparel manufacturing, mineral water, consumer durables, hotels and resorts.

They attracted depositors to invest in various schemes of the company with a promise of high returns.