Chit Fund Scam: ED Questions Former Finance Company Chief

Bhubaneswar: In connection with the multi-crore chit fund scam, the Enforcement Directorate (ED) has questioned Durga Prasad Mishra, former Group Chief of Chit fund firm Micro Finance Ltd.

As per reports, Mishra was interrogated by the ED for more than 5 hours in connection with the money-laundering allegations against him. The ED quizzed him regarding the source of the finance as well as the ways in which the acquired capital was utilised by the chit fund company.

Noteworthy, Mishra was arrested by the CBI on December 2014 on charges of duping investors of Rs 500 crore by floating six companies in the state viz. Micro Leasing and Funding, Micro Hotels, Micro Constructions, Micro Hospitals and Micro Media.

Mishra, who is currently out on bail, was also directed by the CBI Court to pay a compensation of Rs 215 crore failing which the properties of Micro Finance Group would be confiscated.

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