"Panda, presently a DSP of Odisha Police is arrested on charge of larger conspiracy and deriving undue financial benefits from AT Group," a CBI official said.
Panda was taken into custody after the central investigating agency interrogated him for three consecutive days. Panda was presently working as a DSP in Nayagarh district.
He was for some time working for the the Crime Branch of Odisha Police that probed into the chitfund scam.
Panda's relative Jagabandhu Panda, one of the directors of the AT Group, was earlier arrested by the CBI.
Earlier, the Orissa High Court had refused to grant anticipatory bail to Panda, who had approached it to avoid arrest following searches in his house by CBI in connection with the ponzi scheme scam in the state.
Panda is currently working as a DSP in Nayagarh district intelligence bureau. While working as DSP, Crime Branch, which was earlier investigating the scam in the state, he had allegedly threatened petitioner Alok Jena and his wife of dire consequence for moving the Supreme Court seeking investigation into the chit fund scandal.
It was alleged that Panda's wife's firm received undue financial benefits from the AT Group. AT group chief Pradeep Sethy had been arrested earlier.

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