Chit Fund Probe: Remand of Subhankar extended for 5 Days

Bhubaneswar, Nov 27: The special CBI court on Thursday extended the remand period of real estate broker Subhankar Nayak, who was arrested in connection with the chit fund scam, for another five days for further interrogation.

Nayak, who was the middleman of Seashore Group, was produced before the court here today after his nine-day remand ended.

He was arrested by the CBI for his alleged links with the chit fund firm Seashore Group on Nov 18 following a raid at his residence in Chandrama Apartment. The agency had seized few documents related to the chit fund firm showing his nexus with the Seashore CMD Prashant Dash, currently in jail.

He had allegedly had strong links in political and bureaucratic circles in the state.

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