Chit Fund Scam: CBI conducts raids in Odisha and Tamil Nadu

Bhubaneswar, Dec 21: The Central Bureau of Investigation (CBI) officials have conducted raids at many places in Odisha as well as in Tamil Nadu investigating into the chit fund scam by a firm Rightmax Technotrade International on Monday.

As per reports, sleuths have conducted raids at offices and residence of Managing Director of Rightmax Technotrade International company in Odisha. And, also carried out raids in Tamil Nadu offices and residences of the company officials at the same time.

The officials have seized important documents of the company during the raids carried out at the offices and residences of the company personnel. The investigating agency is likely to summon the officials of the company in connection with ongoing chit fund investigation.

The company had reportedly duped many investors by floating various deposit schemes alluring them of providing high returns over their deposits. The company also reportedly offered ten percent interest per month on such deposits.