Probe chit fund companies, Ollywood link: NCP
Sai Pragati Assets and Properties Ltd, now under Crime Branch glare for allegedly duping investors of crores of rupees into an Odia movie
Jun 12, 2013
Source : The Times of India


BHUBANESWAR: While there is a growing public demand for fair probe into the alleged nexus between some politicians and controversial chit fund companies, the NCP on Tuesday urged the city police to unearth the possible links of cinestars with these companies.

In a petition submitted to at Kharvel Nagar police, the NCP demanded to stop the release of an upcoming Odia movie, allegedly being financed by the dubious AT Group. "Police recently told the media that one of the AT Group's former directors Jagabandhu Panda invested money in an Odia movie, set for release during Raja festival," NCP's Bhubaneswar president Ganesh Das said. "Besides, the police should interrogate those actors and producers, having links with fraud chit fund companies. The money should be realized from them," Das said.

Diversion of money, collected by realtors and chit fund promoters, to movies is nothing new. Last week, the Crime Branch arrested builder Narayan Chandra Nayak of Umamani Home Creations for allegedly duping land buyers of crores of rupees and investing money in two Odia movies.

Police earlier suspected that actor-cum-director Naseer Khan, accused of embezzling nearly Rs 500 crore public deposits through his chit fund company in Balasore in 2009, allegedly invested huge money in his film Shadow in which Khan, a visually-challenged person, played the lead role. Another chit fund company Sai Pragati Assets and Properties Ltd, now under Crime Branch glare for allegedly duping investors of crores of rupees, too was accused of diverting public money into an Odia movie recently.

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