Chit Fund Cheating: CBI arrests two Brokers

7504c9799ee42c9b6ddf530abd1362ee_XLBHUBNESWAR: The Central Bureau of investigation (CBI) on Sunday arrested a stock broker and a real estate broker for their alleged involvement in the financial sharp practice of Artha Tatwa( AT). After the arrest Ketan C Parikh the stock broker was sent to judicial custody by the special CBI court while CBI took Dharmendra Bothra the realtor under its remand.
Both the arrestees had been interrogated by the CBI in Bhubaneswar the day before their arrest. According to source in CBI Dharmendra had a made a land deal with BJD legislator Pranab Balabantaray involving Pradeeep Sethy. Balabantaray had bought a plot in Jaydev Vihar area in the state capital in 2003, but had later sold it off to Bothra.
Ketan C Parikh, a Bombay based stock broker associated with Yash Trading and Financial Company Limited was alleged to have got license from SEBI and MCX for AT group. He used to invest AT Group’s money in the stock market. With Parekh’s advice AT Group formed Artha Tatwa Capital Limited being registered at registrar of companies,Cuttack as an Indian Non-Government Company. The company was enlisted in Bombay Stock Exchange. Parekh became its director on May 5, 2009.

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