Ponzi Scam: CBI Raids in Maharashtra & Odisha


New Delhi: The Central Bureau of Investigation (CBI) on Tuesday conducted searches at 58 locations of Samruddha Jeewan Group of companies across Maharashtra and Odisha in its ongoing probe in the multi-crore chit fund scam, an official said.

The agency carried out the searches at the office premises of the Pune-based private firm and its sister companies. The residential premises of alleged accused and suspected directors are also being searched, a CBI official said.

The raids are being conducted following two cases registered by the agency against Samruddha Group on charges of criminal conspiracy, fraudulent, criminal breach of trust, and sections of the Prevention of Corruption Act.

“Searches are being conducted at 58 locations in Maharashtra and Odisha against Samruddha Jeewan Group of companies in connection with two alleged chit fund cases,” the official said.

“This is one of the chit fund companies that had allegedly collected money from common man without having any valid legal authority,” the official said. The official said the raids are being conducted at 58 locations in Pune, Nasik, Aurangabad, Solapur and Odisha.