CBI Raids Another Company In Chit Fund Scam

The central bureau of investigation (CBI) raided the premises of another chit fund company, Midas Touch Assets and Securities Limited. The CBI raided Midas Touch's head office in Bhubaneswar and branch offices at other places in the state.

Last week, the investigating agency had raided the offices of Nava Diganta Capital Services Limited. The company is accused of duping hundreds of investors in Odisha.

Midas Touch started its operations in 2009 and collected money from investors in Angul, Puri, Bhubaneswar, Dhenkanal and Baripada.

CBI sleuths could not lay their hands on the company's managing director Soubhagya Kumar Samal, who is on the run. His parental house in Jajpur was also raided.

“The flat was found locked with several bank notices pasted on the door. Samal had failed to repay the loan availed from a bank to purchase it. Raids are being conducted to know his whereabouts," said a CBI officer.

"Samal fled without paying the house rent of Rs 3 lakh. He had taken the house on rent in 2009. A few days ago, I learnt that he had fooled investors by claiming that the building was his," said Piyush Prasad Prusty, the owner.