Ponzi scam: Chargesheet filed against Seashore Group

Odisha Channel Bureau Bhubaneswar, Mar 7: Close on the heels of a protest by civil society organisations against the slow pace of CBI probe into the mega chit fund scam in Odisha, the CBI filed chargesheet against the Seashore Group in a local court here on Saturday.Apart from the company the CBI has named Group’s CMD Prashant Dash, his brother Prabhat Dash and broker Subhankar Nayak in the chargesheet, according to reliable sources.The premier investigating agency has said in the chargesheet that the accused persons were involved in financial irregularities to the tune of Rs.578.20 crore, sources added.No politician or officer has been named in the chargesheet though reports were published in the past about the alleged involvement of many politicians in the ponzi scam involving the Seashore Group companies.The Seashore Group had signed several memoranda of understanding with different Departments of the Naveen Patnaik Government.The MoUs, however, were cancelled by the government in the wake of the probe.Prashant Dash and the two other accused named in the chargesheet are in judicial custody at present.It was alleged that lakhs of poor investors were duped by the Group’s companies on the promise of high returns on their deposits.