Oscar Chit fund: Gujarat police to remand company Chief Pravash, aides


Bhubaneswar: Special Chit fund court Cuttack on Wednesday granted Gujarat Police to take ponzi firm Oscar Group’s Chief Pravash Rout and other aides on a ten day remand.

The economic offence wing of the Crime Branch which is the investigative agency handling the case had applied for 21 day remand.

Sources said the court has allowed the probing agency to take Rout and others including Muna Patra, Tara Prasad Hota, Kirti Ranjan Bastia from November 24.

Notably, Oscar Chit Fund which had a sprawling business across the state with more than 50 offices had misappropriated more than Rs 230 crores. Similarly, the company had also frauded cores of rupees from people in Gujarat where it was operating with five branch offices. Following investigation into this multi hundred crore fraudulence EOW of Crime Branch arrested Pravash and his aides during July this year.

Meanwhile in another development AT Group chit fund scam tainted TV channel owner Manoj Das was released from jail. High court had granted him conditional bail on November 10 and after depositing a stipulated bail bond he was freed from jail.

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