Odisha chit fund scam: CBI raid at Microfinance MD’s house

Sambad English Bureau Published On : Dec 8, 2014 at 4:17 PM Updated On : Dec 8, 2014 at 7:42 PM

Reported by Santosh Jagdev
Bhubaneswar, Dec 8:

As part of its ongoing investigation into the Odisha chit fund scam, the CBI today raided the residence of Durga Prasad Mishra, former managing director (MD) of Microfinance Ltd, in Patia here this afternoon.

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Onlookers, many of them investors, crowded outside the residence of Managing Director of Microfinance Limited Durga Prasad Mishra in Bhubaneswar which was raided by CBI on Monday afternoon (Pic: Biswaranjan Mishra) — Onlookers, many of them investors, crowded outside the residence of former Managing Director of Microfinance Ltd Durga Prasad Mishra in Bhubaneswar which was raided by CBI on Monday afternoon
(Pic: Biswaranjan Mishra)

A four-member team of CBI swooped down on Mishra’s residence, House No 11 in Aryabhumi Apartments in Patia, at about 2 pm and left around 3.30 pm.

The CBI team reportedly enquired about the whereabouts of Mishra, who was not present in the house when the search operation was conducted.

Dozens of people, who had invested in the schemes launched by Microfinance, were seen crowding outside the residence while the raid was going on.

The Economi Offences Wing (EOW) of the Crime Branch, which was probing the chit fund scam before the CBI took over the case on the orders of the Supreme Court, had earlier raided the offices of the company at various places.

The company had mobilised deposits from nearly five lakh investors under the various schemes it had launched.