Odisha News Insight

Green Ray Chit Fund Scam: CBI conducts Raids at 13 Places

CBI-BBSRBhubaneswar, Sep 28: The Central Bureau of Investigation (CBI) has been conducted raids at 13 places in the state today over the Green Ray International chit fund scam. According to reports, raids were carried out by sleuths of CBI at 13 places including Balesore, Jajpur, Keonhore and Khurda.

The sleuths raided the houses of the company officials and company premises. The team seized many important documents in the raids.  Prior to CBI, the chit fund case was investigated by Odisha Crime Branch which had written to the home department to confiscate 19 acres of land of Green Ray International. It is noteworthy that the ponzi company had started its business in 2005 and duped innocent investors of around Rs.100 crore by promising of good returns.

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