Former MLA Prabhat Biswal and Wife Face Charges in Seashore Chit Fund Scam
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Former Choudwar-Cuttack MLA, Prabhat Biswal, and his wife Laxmibilasini found themselves facing a legal storm as charges were officially framed against them in connection with the infamous Seashore chit fund scam. Nearly a decade after the case was registered, a CBI Court took action by invoking Sections 420, 120 B, 409, 467, 468, and 471 of the Indian Penal Code against the couple.
When confronted with the choice to admit to the charges or proceed with a hearing, Pravat chose the latter, emphasizing the need for a swift resolution. This development unfolded after the national probe agency, CBI, took over the case in response to a directive from the Supreme Court of India in May 2014.
This scandal, which ensnared Biswal and other BJD leaders, initially came to light as part of a multi-crore Ponzi scheme investigation. In 2014, two separate arrests were made involving Pravat Tripathy, the then Banki MLA, and Mayurbhanj MP Ramachandra Hansdah. Subsequently, in 2017, Biswal faced arrest due to his alleged involvement in a contentious land deal with Seashore Group’s chief, Prashant Dash. The deal, valued at Rs 25 lakh, was obscured as a legitimate transaction, routed through his wife Laxmibilasini’s account, casting a shadow over his political career.
