ED looks out for Saradha Group property in Odisha
Jul 07, 2014
Source : The Times of India

 

BHUBANESWAR: A day after bringing Saradha scam alleged mastermind Sudipta Sen to the city for interrogation, the Enforcement Directorate (ED) on Friday started efforts to locate assets either purchased or sold by Sen in Odisha.

The ED suspects Sen sold a multi-storey apartment in Puri two-and-a-half years ago. "Prima facie, the company illegally diverted public money to real estate business. We learnt the company owned an apartment complex worth Rs 150 crore near the sea beach in Puri and later sold it to a businessman of Cuttack. It is under verification," said an ED officer. "We will interrogate him after the court grants us his remand," the officer said.

Crime Branch authorities said they too are looking for Saradha assets. "We have detected 14 acre of land in the name of Saradha Group in Balasore district and proposed the finance department for its confiscation," said ADG (Crime Branch) B K Sharma .

The company is accused of duping investors of nearly Rs 100 crore in Odisha, though the fraud runs into hundreds of crores of rupees in West Bengal and Assam.

Sen had been using four companies, Saradha Housing, Saradha Realty, Saradha Tours and Travels and Saradha Garden Resorts, for mobilizing money in different states. Other companies, including Saradha Construction, Saradha Financial Management, Saradha Exports, Saradha Agro and Broadcast Worldwide, were used to mobilize 25% of the money from investors.

Sen was sent to Jharpada special jail here after being produced in a court on Thursday. "He requested us for some books and newspapers in the evening," said a prison officer. Apart from Sen, AT Group's Pradip Sethy too is cooling his heels in the special jail.

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