ED Seizes Rs 1 Cr Cash During Raids Against Chit Fund Scam in Odisha

Bhubaneswar: Officials of the Enforcement Directorate (ED) seized cash to the tune of over Rs 1 crore during raids at 10 places in Odisha in connection with an alleged fraud of Rs 900 crore by Goldenland Developers Limited.

ED conducted raids at places including Berhampur, Digapahandi, Chikiti, and Bhubaneswar since Thursday.

The ED has arrested six persons in connection with the case and has frozen several bank accounts of the dubious chit fund company.

Raids are also being conducted at the premises linked to the Delhi-based company.

Six cases have been registered by the ED against the company and its officials on charges of duping depositors to the tune of around 900 crore rupees.