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Chit fund scam: HC grants bail to Seashore chief Prashant Das


Cuttack: In a major development in the Seashore chit fund scam, Orissa High Court today granted bail to Prashant Das, the Chairman and Managing Director (CMD) in three of the cases filed against him.

After conducting hearing on the three cases filed from Koraput, Jeypore and Semiliguda areas, HC granted unconditional bail to Prashant.

Notably, Prashant Das, CMD of Seashore Group was behind bars since 2013 after getting arrested by the Economic Offence Wing (EOW) of State Crime Branch from Mumbai on June 2013 allegedly for duping investors to the tune of Rs 500 crore in Odisha by floating ponzi schemes under the company.

Earlier, a SFIO team interrogated the accused in connection with the alleged irregularities committed by the group’s companies for violation of the Company Act


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