By Bizodisha Bureau, Bhubaneswar, May 9, 2017 : The Chairman-cum-managing director (CMD) of Nabadiganta Capital Financial Services, Anjan Kumar Baliarsingh, on Tuesday pleaded guilty to the charges of cheating investors in the State brining bad news for the ruling Biju Janata Dal (BJD)’s Mayurbhanj MP Ramchandra Hansdah and other.

Anjan Baliarsingh Baliarsingh on Tuesday appeared before the Special CBI Court here and admitted guilt in wiring to all the charges framed by the central investigating agency, CBI. The court has accepted it and his statement will be recorded at a later stage, sources said.

Baliarsingh was arrested by the CBI on October 26, 2014.

His move is likely to bring trouble for Ramachandra Hansda, Biju Janata Dal (BJD) MP from Mayurbhanj, Subarna Nayak, ex-BJD MLA from Keonjhar, and Hitesh Bagarti, former Nuapada MLA of Bharatiya Janata Party (BJP), as they were arrested by the CBI for their alleged involvement in the affairs of the chit fund company and are presently lodged in jail.

   Ramachandra Hansdah

In 2015, during a raid, the central agency had seized Rs 28 lakh from the parliamentarian’s house. Notably Hansdah was the founding director of money-circulation deposit company.

According to allegations, the company had collected about Rs 15 crore from depositors through its branches located in undivided Puri and Cuttack districts between 2011 and 2013 on the promise of giving hefty returns to them on deposits.

Earlier in the month, the designated Court had awarded five-year imprisonment to Waytel chit fund chief Thakur Amardip Singh and fined Rs 100 crore in connection with a money laundering scam.

Last month, the Court had sentenced chit fund firm Artha Tatwa (AT) Group’s chief Pradip Sethy to 7-year imprisonment for his involvement in the multi-crore chit fund scam in Odisha. The court also imposed a fine of Rs 30,000 on Sethy, failing which he will be required to undergo another 6 months of imprisonment.

Apart from him, the court also sentenced Manoj Patnaik, another director of AT Group to 4 years of imprisonment and imposed on him a fine of Rs 10,000.