Odisha chit fund scam: Seashore director arrested

Bhubaneswar, Jan 24: The director of as many as 15 ventures of the Seashore group, Pravat Dash, the brother of group chief Prashant Dash, was arrested Saturday for his alleged link to the chit fund scam in Odisha. The Central Bureau of Investigation (CBI) arrested Pravat Dash after questioning him Saturday morning. He is accused of embezzling about Rs.3 crore which was transferred to his account from Seashore. He is the director of Seashore Securities Ltd which had collected money from investors in the state assuring them of high returns. Pravat Dash, however, pleaded his innocence in the matter. "I don't have any involvement in the misappropriations," Pravat told media after his arrest.