BHUBANESWAR: The prime accused in the multi-crore Nabadiganta chit fund scam, Anjan Baliarsingh, has pleaded guilty of all charges before a special court here on Tuesday.
Baliarsingh, chairman and managing director of Nabadiganata Capital Services submitted the petition through his lawyer before the Special CJM (CBI), two and a half years since his arrest.
The ponzi firm head, along with company directors Kartikeya Panda and Pradeep Patnaik.were arrested by the CBI on October 26, 2014 and sent to judicial custody within six days. They have been lodged at the Special Jail in the city since then.
While the Special Court had started the trial in the Nabadiganta case in April, 2017, Baliarsingh’s move to plead guilty would expedite the hearing against the accused within May, said sources.
The conclusion of the trial is likely to spell trouble for all three political leaders including sitting MP from Mayurbhanj, Ramchandra Hansda, who are co-accused in the case.
Hansda, and former legislators Subarna Naik and Hitesh Bagarti, who were also directors in Nabadiganta, have been arrested by the CBI for their alleged complicity in the financial fraud.
Nabadiganta, registered with the Registrar of Companies, Cuttack in August 2011, had collected more than Rs 15 crore from the public in undivided Puri and Cuttack districts.
While the investors were promised high returns, Nabadiganta owed Rs 8.39 crore to investors which was siphoned off by the accused.
The accused had also criminally conspired and
blatantly flouted norms of the Reserve Bank of India and the Companies Act.