Ponzi Scam: CBI takes Sagar Ray on 12-Day Remand


Bhubaneswar, Nov 15: The special CBI court sent the builder Sagar Ray, who was arrested in connection with chit fund scam yesterday, to CBI custody on remand for 12 days for further interrogation in the case.

The CBI had sought 14-day remand of Ray after he was produced in the court today.

Ray was the managing director of the Orison Properties Ltd. He was arrested on Friday for his alleged links with the AT Group.

His business partners Vineet Lalani and Dillip Mohanty, who were the directors of the real estate firm, were earlier arrested on similar charges last week.

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