CBI arrests Subhankar Nayak in ponzi scheme

Bhubaneswar, Nov 19: CBI on Tuesday arrested middleman Subhankar Nayak in connection with the multi-crore chitfund scam in Odisha for his alleged role in channelling money of ponzi company Seashore.

Nayak, whose house in Kharabela Nagar area here was raided by CBI sleuths this morning, was taken to the agency's state headquarters and arrested later, CBI sources said.

"He (Nayak) was arrested as prima facie evidence was found that money from Seashore group was being channelled through him," they said.

During the raid conducted on his house, the investigating agency seized Rs 16 lakh cash, two gold coins and several documents, they said, adding further investigation was on to ascertain his exact role in the scam.


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