Orissa high court grants bail to chit fund accused who was in jail for 10 years - Hindustan Times
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Orissa high court grants bail to chit fund accused who was in jail for 10 years

ByDebabrata Mohanty
Nov 20, 2023 08:56 PM IST

Actor and producer Naseer Khan, accused of duping people in a chit fund scam, has been granted conditional bail by the Orissa high court.

Bhubaneswar: Actor and producer Naseer Khan, who has been in jail since his arrest by the Enforcement Directorate (ED) in 2013 in a chit fund case was granted conditional bail by the Orissa high court on Monday.

Naseer Khan was first arrested in the chit fund case in 2009
Naseer Khan was first arrested in the chit fund case in 2009

Khan, who produced and acted as a serial killer in Hindi movie Shadow in 2009, was arrested following accusations of duping lakhs of people who deposited their savings in Fine Indisales Private Limited, a chit fund company of Balasore district. The company was alleged to have collected over 578 crore from nearly 2.4 lakh people across the country.

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In July 2009, Odisha police said it had busted a chit-fund scam in which Khan’s firm was allegedly involved. The Criminal Investigation Department (CID) arrested him on October 20, 2009, and believed that the money allegedly collected through fraudulent means by his firm was invested in the film ‘Shadow’ in which Khan, a visually challenged person, played the lead role.

Later, the Supreme Court directed the Central Bureau of Investigation (CBI) to probe the case. Khan was granted bail in this case on the orders of the Supreme Court.

In 2014, ED attached movable and immovable assets of Fine Indisales worth over 47 crore in Mumbai and Kanpur. These assets included land and buildings worth 19 crore in Mumbai and bank deposits in some accounts in Kanpur.

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