The Economic Offence Wing (EOW) of the Crime Branch sealed the main branch of the Seashore Group here on Saturday in connection with the chit fund scam and duping the investors of the State.
At around 8 am, the EOW officials raided the main branch of the company and sealed its corporate office at the third floor. later, the officials sealed the Seashore Cooperative Society at the fourth floor. Finally, they sealed the office campus as a whole, Crime Branch sources said.
“On the basis of a case, which was filed against the company last year, we are conducting the inquiry and we sealed the main office as a part of our investigation,” said Crime Branch DIG Rajesh Kumar, adding, “After checking the documents, we will decide our next course of action.”
Earlier, five factories at Cuttack and a rice meal of the company had been sealed. The EOW officials were probing the role of company’s other organisations in the case and analyzing their functioning.
Meanwhile, CMD of controversial Artha Tatwa (AT) Group Pradip Sethi, who was arrested on May 12 for cheating investors, was taken on a four-day remand by the Commissionerate Police from May 18 to 22 for more interrogation.
The police would interrogate Sethy about his company’s modus operandi and investment sources, police official sources said. The police may ask the AT Group chief on involvement of certain politicians and other influential persons who had helped him in protecting the illegal business. A preliminary investigation had revealed that Sethi’s AT Group allegedly duped investors to the tune of Rs 200 crore.