ED Raids Several Locations in Odisha in Artha Tatwa (AT) Chit Fund Case

Bhubaneswar: Officials of the Enforcement Directorate (ED) officials conducted simultaneous raids at multiple locations in Odisha on Thursday as part of an investigation of the Artha Tatwa (AT) chit fund scam case.

According to reports, ED teams conducted search operations in at least five places in Bhubaneswar, Berhampur and Chatrapur. The office of an Odia newspaper in Bhubaneswar was also raided by the ED. In the past, the owner of this newspaper was arrested by the CBI. He was later released on bail.

The CBI and ED investigated 44 chit-fund companies operating in different parts of the country, mainly in Odisha and West Bengal. Artha Tatwa was one of them. The ED attached property worth more than Rs 133 crore related to the Artha Tatwa.

On February 15, ED officials raided 10 places linked to MLA Prafulla Samal and his son Prayaskanti Samal on February 15 over an alleged money laundering case related to Barapada Engineering College.