VISAKHAPATNAM: Malla Vijaya Prasad, former Visakha West MLA and chairman of Andhra Pradesh Education and Welfare Development Corporation, on Monday filed a petition in the Odisha protection of interests of depositors court in Cuttack seeking bail.
It may be recalled that the officials of the Economic Offences Wing (EOW) of Crime Branch, Odisha, had arrested Prasad at his residence in Vizag city a few days ago in connection with the Welfare Buildings and Estates Pvt Ltd chit fund scam in that state.
The officials also filed a petition in the court seeking three-day custody of the YSRC leader for questioning the accused to ascertain whether the chit fund firm had opened offices in other parts of Odisha apart from Bhubaneswar, Narasinghpur, and Nayagarh. The agency will probe the financial trail of the Ponzi firm and if the money collected fraudulently from the investors was utilised by the accused for other purposes. The court will hear both petitions on Tuesday.
