For the first time, the Crime Branch with the help of State police on Friday simultaneously conducted a series of raids on the branch offices of several chit fund companies, including Saradha Group and Artha Tatwa (AT) Group at 150 places in 15 districts. Valuable documents were seized and a few officials were arrested during the raids, Crime Branch official sources said.
According to Additional Director General of Crime Branch Bijay Kumar Sharma, the team had decided to conduct raids at different offices of the chit fund companies simultaneously across the State in view of the rising number of financial fraud cases. The investigating agency had earlier finalised the date for May 10, he informed.
“We seized important documents of a number of chit fund companies and our officers are scrutinising them,” Sharma said, adding, “If we get any official involved in the fraud, we will arrest him according to the provision of law.” Sharma claimed that the simultaneous raids at 150 places were conducted for the first time in the country.
Meanwhile, Director General of Police Prakash Mishra said more raids are on cards.
The Crime Branch team conducted raid at 36 places in Baleswar district on Friday and then recorded statements of the investors. In addition, during marathon raids, the team seized computers, money receipts and important company files from Kendrapada, Sambalpur, Bargarh and other districts as well. The officials examined the documents of various chit fund organisations and private financial companies regarding their clearance from the RBI and the SEBI, sources said.