Ponzi company CMD again denied bail in Odisha
Jul 02, 2013
Source : Business Standard

 

KORAPUT: A district court today rejected the bail petition of Seashore Group CMD Prashant Dash in the chitfund scam for the second time.

The bail petition was rejected by the SDJM, Koraput Ajit Patnaik.

"The court denied bail to Dash citing that investigation is under progress and a large number of investors are involved in the case," said T N Murty, counsel of Dash.

Dash, who was accused of duping lakhs of guilble investors of about Rs 1,000 crore across the state, was arrested from Mumbai on June 19 in a case against him at Semiliguda police station in the district on June 6.

Dash was produced before the SDJM of Korpaut on June 23 and the court had rejected his bail plea on June 25.   

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