DSP Panda remanded in five-day CBI custody

Panda’s nephew Jagabandhu Panda, one of the directors of the Artha Tatwa Group, was earlier arrested by the CBI.

A special CBI court on Saturday remanded police officer Pramod Panda in five-day CBI custody to interrogate him about his links with chit fund group Artha Tatwa. Panda, a DSP of Nayagarh district, is the first police official to be arrested in the case.

Panda, who was arrested on Friday after three days of interrogation, worked for the CID that was probing the scam before CBI took charge. He has been charged with “larger criminal conspiracy” and “receiving financial benefits” from Artha Tatwa Group.

Panda’s nephew Jagabandhu Panda, one of the directors of the Artha Tatwa Group, was earlier arrested by the CBI. While working as DSP with the CID, he had allegedly threatened chit fund case petitioner Alok Jena and his wife of dire consequences for seeking a CBI probe.

Meanwhile, the CBI court remanded former managing director of Microfinance Ltd, Durga Prasad Mishra for an additional three days.

Mishra’s company was barred by the Reserve Bank of India in September 2012 from collecting deposits from people. But he allegedly kept on collecting deposits through fraudulent means. He was produced before the special CBI court after his six-day remand ended Saturday.

First uploaded on: 21-12-2014 at 04:13 IST

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Orissa chit fund

YouTuber arrested after claiming to have spent over 24 hours at Bengaluru airport

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