Odisha co-ops bristle with chit-fund scams

The chit fund scam in Odisha has tarnished the image of the entire cooperative movement in the state. Most of the cooperative bodies including the Odisha state cooperative union the highest cooperative body in the state are under the scanner of the CBI investigating the chit fund scandal.

The CBI has already interrogated several leading cooperators. The investigating agency is trying to find out how ponzi firm head Pradip Sethy could win top cooperator wards, this is the crux of the matter, claim sources.

The latter add the scandal may ensnare some political heavyweights as well. Incidentally, the Odisha High Court has rejected Mr. Sethy’s anticipatory bail plea.