Bhubaneswar, Sep 8: The Odisha Crime Branch (CB) will take former Andhra Pradesh MLA Malla Vijay Prasad on remand for further interrogation on his alleged role in a chit fund fraud amounting to over Rs 1,200 crore.
The former MLA, Prasad, was arrested by the Economic Offences Wing (EOW).
Prasad, as Managing Director of Wellfare Buildings & Estates Pvt Ltd, has allegedly duped general public by promising high returns on their deposits in this company, the EOW stated. Prasad is senior leader of the YSRCP in Andhra Pradesh. On Tuesday, hewas brought to Odisha on transit remand and produced in the Court of OPID in Cuttack.