CBI arrests Owner of Chit Fund Firm in Odisha

Bhubaneswar, May 8 (IANS) The Central Bureau of Investigation (CBI) on Friday arrested an official of chit fund firm Zodiac Foundation for his alleged involvement in the chit fund scam in Odisha.

Dandapani Sethi was arrested in Phulbani district. “The CBI has arrested Dandapani Sethi of Zodiac Foundation, who had allegedly collected crores of rupees from the public under various financial schemes and was thereafter absconding,” said a CBI official from New Delhi.

Last year, a local court in Baripada in Mayurbhanj district had convicted Zodiac chief Puban Bihari Behera and deputy chief Subash Chandra Mohanty and sentenced them to four years’ rigorous imprisonment.

The CBI is inquiring into the multi-crore chit fund scam in the state following the direction of the Supreme Court.
It is investigating about the involvement of 44 companies in the scam.