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CBI Files Supplementary Chargesheet in Odisha Ponzi Scheme

Image for representation.

Image for representation.

During the probe, CBI found that the accused persons had conspired and allegedly cheated investors to the tune of Rs 69.43 crore between 2009 and 2013 by collecting deposits from the public on the promises of giving them back high returns.

Nitisha Kashyap
  • CNN-News18
  • Last Updated: October 23, 2019, 9:59 PM IST
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New Delhi: The CBI has filed a supplementary charge sheet against Green India group in Bhubaneswar for allegedly duping people of over Rs 69 crore through a ponzi scheme, officials said here Wednesday.

In the charge sheet filed before Bhubaneswar special court, the CBI has charged private individuals Pradeep Kumar Singh, Jitendra Kumar Mishra and companies Green India Properties Private Limited, Green India Infra Projects Limited, Green India Retailing Private Limited and Green India Multi State Member's Credit Co-operative Society Limited for criminal conspiracy, cheating and provisions of Prize Chits and Money Circulation Schemes (Banning) Act, 1978, they said.

During the probe, CBI found that the accused persons had conspired and allegedly cheated investors to the tune of Rs 69.43 crore between 2009 and 2013 by collecting deposits from the public on the promises of giving them back high returns, they said.

These deposits were collected in the name of the companies mentioned in the Supplementary chargesheet. These companies were not authorised by any regulatory body to collect money from public.

The FIR had alleged that the company took money in the name of providing land but neither the company provided that nor refunded the money. Earlier, a charge sheet was filed on December 2, 2014.

Sunil Kumar Panda, the former CEO of Green India Group, had already pleaded guilty in 2017.

Further investigation is underway.

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