Bhubaneswar: Two offices of Micro Finance Limited in the state capital were sealed and several important documents were seized by Economic Offence Wing (EOW) sleuths of Crime Branch on Sunday.
Earlier, the director of the company Baikunthanath Patnaik and state panchayatiraj secretary’s former personal assistant Ajay Swain were arrested by EOW officials on Saturday.
Patnaik was charged with erroneous money laundering practices, while Swain was arrested for issuing fake official letters to all district collectors to allow Micro Finance Ltd carryon its money laundering business citing it has got prior permission from the Reserve Bank of India and the state government as well.
But Swain allegedly issued the letters in the name of panchayatiraj secretary, without his knowledge. The entire shoddy act unfolded when a TV channel produced a copy of the letter. Soon a complaint was lodged by the panchayatiraj department against Swain.
Sources however said, after sealing the two offices of the company in Sahid Nagar and Rasulgarh in the capital and seizing valuable documents, EOW officials are likely to carry on further raids in the various other joints of the company.