The Enforcement Directorate (ED) is conducting massive raids in Berhampur today in connection with a major ₹500 crore chit fund fraud case.
The raids are centered around the residence of Green India chit fund company owner, Pradeep Singh, located in Ayodhya Nagar, Berhampur. Simultaneous searches are reportedly being carried out at various other locations as well.
The Green India company faced allegations several years ago of cheating numerous investors out of hundreds of crores.
The initial investigation into the massive scam was undertaken by the Crime Branch back in April 2013.
While the ED is currently sweeping the premises, there is no official confirmation yet regarding the amount of information or assets seized during the ongoing operation.