The Enforcement Directorate (ED) on Saturday attached properties worth over Rs 3.92 crore of former Cuttack-Choudwar MLA Pravat Ranjan Biswal, a BJD leader, in connection with the chit fund scam.
Sources said the ED attached the assets under the Prevention of Money Laundering Act (PMLA), 2002.
“ED has provisionally attached movable and immovable assets worth Rs 3,92,20,000 belonging to Pravat Ranjan Biswal and Media Guru Consultants Pvt Ltd under PMLA 2002, in a pozi scam case. With this, value of total attached property in this case rose to Rs 261.92 crore,” said a release issued by the ED.
Earlier in September 2017, the Central Bureau of Investigation (CBI) had arrested Biswal in connection with Seashore chit fund scam.
The company fraudulently collected huge amounts from the general public, of which Rs 25 lakh was diverted to the ex-MLA and his family members and Rs 4 crore was diverted to the Media Guru Consultants Pvt Ltd to set up a news and current affairs TV channel named ‘STV Samachar’, the ED said.
Further investigation into the case was under progress.
