Mohanty and Manoj Das, the owner of Kamyab TV, a local television channel, were arrested by the CBI on Sunday. The court will on Tuesday decide on the bail plea of Das.

The CBI is investigating the chit fund scam on the direction of the Supreme Court.

The scam came to light after a large number of investors last year complained that many firms collected huge amounts of money from them promising high returns, but later refused to pay them back as promised.

The CBI is probing at least 44 companies in Odisha. They include Kolkata-based Saradha Group, and Odisha-based Seashore and Artha Tatwa groups.

The loss from the scam is claimed to be running into thousands of crores of rupees. Both Mohanty and Das have been arrested for their alleged link with the Artha Tatwa group.

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