Bhubaneswar/New Delhi:Supreme Court today granted bail to suspended Biju Janata Dal (BJD) Lok Sabha MP Ramchandra Hansda who was lodged in jail since over three years in connection with Nabadiganta chit fund scam.
The Mayurbhanj MP, one of the directors of Nabadiganta Capital Services, was arrested by the CBI for his alleged involvement in the Odisha chit fund scam in November 2014.
Since his arrest on November 4, 2014, Hansda had been languishing in Jharpada Special Jail in Bhubaneswar.
CBI had arrested Hansdah along with two former Odisha MLAs Hitesh Kumar Bagartti and Subarna Naik in the multi-crore chit fund scam involving Nabadiganta Capital Service which allegedly duped hundreds of investors. He was in jail since November 4, 2014.
While probing into the scam, the CBI had recovered Rs 28 lakh cash from Hansdah’s house in Mayurbhanj district in July 2014 but he claimed it to be his personal and party fund.
Hansda was the founder director of the Nabadiganta Capital Services, one of the 44 chit fund companies being probed by the CBI by the order of the Supreme Court, had raised Rs 15 crore between August 2011 and 2013 from people promising attractive returns. However, the company managed to return only half of the money till its assets were seized by the Economic Offences Wing (EOW) of the Odisha Crime Branch following complaints by the duped depositors.
Notably Hansda was Suspended from BJD after his Arrest by BJD supremo and chief minister Naveen Patnaik had suspended him from the party.
