Ponzi scam: CBI arrests Adarsh Group director from Cuttack

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Bhubaneswar: Sleuths of Central Bureau of Investigation (CBI) today arrested the director of Adarsh Group of Companies Saroj Patra in connection with the multi-crore chit fund scam in Odisha.

The CBI arrested Patra from Nemalo area in Cuttack on the charges of duping gullible investors to the tune of Rs 12 crore.

The arrest was made on the basis of a warrant against Patra, earlier issued by the CBI court.

On April 28, 2017, the group’s MD Bijay Kumar Rout was sentenced to four years of rigorous imprisonment by a special CBI court after being convicted in the Ponzi scam.

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