Remand of Durga Mishra Extended for 3 More Days in Ponzi Scam

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Bhubaneswar, Dec 20: The remand of Durga Prasad Mishra was extended for three more days in connection with the chit fund scam. The CBI on Saturday produced him before the court seeking to take the former MD of the Microfinance Ltd on additional three day remand.

Mishra was produced before the special CBI court as his six-day remand ended today. He is accused of duping thousands of depositors alluring them of bigger returns.

He was hiding since March. He was arrested by the CBI last week following the raids at his offices and residences in the state capital.

Recently, the CBI during the investigation claimed that Microfinance had violated the guidelines set by the Reserve Bank of India (RBI) in obtaining a licence to run the ponzi scheme business in Odisha.

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