Continuing its raids on chit fund firms in the State, the CBI officials on Wednesday conducted searches at different offices of the Rely Foundation, a chit fund firm.
According to sources, CBI sleuths raided parental houses of company director Rabi Narayan Satpathy of Kakatpur in Puri district and Raj Kishore Nayak of Jagatsinghpur. Besides, the CBI personnel searched houses of other officials of the company, including its area manager Manoj Padhi at Balugaon in Khordha district.
They also raided branches of the company at Bhubaneswar, Puri, Khordha, Banpur, Kakatpur and Jagatsinghpur.
The Rely Foundation has allegedly duped several investors of crores of rupees through fixed deposits, recurring deposits, loans and different products under different schemes designed by it.
Sources stated that the CBI found several incriminating documents from the company offices and houses of its directors during the sudden raids.
Notably, investors of the Satyabadi area in Puri district had lodged a complaint with the police against the company on January 13 this year. In the complaint, the investors alleged that the firm had duped them of Rs Rs 16 lakh.