Odisha chit fund scam: CBI arrests Mumbai stock broker Pareek, realtor Bothra

Odisha Sun Times Bureau
Bhubaneswar, Sept 21:

The CBI team probing the mega chit fund scam in Odisha today arrested Mumbai-based stock broker Deepak Chandratan Pareek and real estate broker Dharmendra Bothra for their alleged links with the Artha Tatwa (AT) Group financial fraud sources said.

The Central agency had grilled Pareek for more than three hours at the CBI office here on Saturday evening.

Both the arrests are, however, yet to be officially confirmed by the CBI.

Sources in the CBI said Pareek, who was reportedly associated with a stock and trading company named as Yash Trading and Finance limited earlier, became the director of Artha Tatwa Capital Limited (ATCL) on May 5,2009. The ATCL was enlisted at the Mumbai Stock Exchange.

Artha Tatwa Capital Limited is a public company incorporated on 05 May 2009. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Cuttack. Its authorized share capital is Rs. 20,000,000 and its paid up capital is Rs. 20,000,000.

Pareek used to invest AT Group’s money in the stock market. Several influential persons in the state who had links with AT Group are said to have made investments in the stock market through Pareek, sources added.

During interrogation on Saturday night, Pareek was asked by the CBI to give information on the money trails and quantum of investments made by the AT Group in the stock market, sources said.

Pareek had allegedly obtained license from SEBI and MCX for the AT Group.

Earlier on August 16, the CBI had conducted searches at the residences of Pareek and a lady TV serial producer in Mumbai.

Dharmendra Bothra was earlier quizzed by the CBI on his land deal with the BJD MLA from Dharmasala and BJD strongman Kalapataru Das’s son Pranab Balabantaray. Balabantaray had bought a plot in Jaydev Vihar area in the state capital in 2003, but had later sold it off to Bothra.

It was alleged that Balabantray had taken Rs 20 lakh advance from Sethy through Bothra to sell the Jayadev Vihar plot but chose to sell it to someone else. Balabantray has however denied the charges and said he never had any links with either with the AT Group or Pradip Sethy.