Odisha appoints judicial commission to probe Ponzi scam

Odisha chief minister Naveen Patnaik on Tuesday announced that former chief justice of Sikkim high court RK Patra would head an inquiry commission to probe the alleged multi-crore Ponzi scam in Odisha. Priya Ranjan Sahu reports.

Updated on: Jul 9, 2013, 21:26:31 IST

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Odisha chief minister Naveen Patnaik on Tuesday announced that former chief justice of Sikkim high court RK Patra would head an inquiry commission to probe the alleged multi-crore Ponzi scam in Odisha.

“We will ensure free and fair investigation into all chit fund related cases. We are moving the Orissa high court for constitution of some special courts for speedy trial of all these cases,” Patnaik said.

The chief minister also announced the creation of a corpus fund of Rs 300 crore to protect the interest of small investors in the state.

The crime branch of police in the state has been investigating the scam worth over Rs 4000 crore since May. It has so far arrested 230 persons and registered more than 240 cases against 20 finance companies that have collected investment from about 7 lakh investors.

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