Now Reading: ED Searches Former MLA Malla Vijay Prasad’s Bhubaneswar Premises
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ED Searches Former MLA Malla Vijay Prasad’s Bhubaneswar Premises
The Story in Brief
The Enforcement Directorate searched premises linked to former Visakhapatnam MLA Malla Vijay Prasad in Bhubaneswar on Wednesday. The action concerns an alleged chit fund fraud and suspected money laundering. The agency has not issued an official statement on the outcome.
Prasad was arrested by Odisha Crime Branch’s Economic Offences Wing in 2021 and later received conditional bail from the Odisha High Court. His company, Wellfare Buildings and Estates Pvt Ltd, is accused of cheating thousands of depositors in Odisha, Andhra Pradesh and Chhattisgarh of around Rs 1,200 crore. A case was registered in 2019. The CBI searched his office and residence in 2016.
The Indian Opinion
The searches are an investigative step and do not establish guilt. The alleged losses are substantial, but the claims must still be tested through evidence and legal proceedings. With no official statement from the ED, details of the latest action remain unclear. Readers should distinguish between allegations, arrests, searches and confirmed findings, while avoiding both sensational claims and premature conclusions.
Source: odishatv.in
This story was synthesised by AI from the source linked above.
