Bhubaneswar: The Central Bureau of Investigation (CBI) on Tuesday conducted simultaneous searches at 12 places in Odisha in connection with a chit-fund scam.

CBI sources said searches were conducted at residences of some officials of inter-state chit fund company Swastic India, and offices of the company, including eight in Bhubaneswar.

The other four places where the company offices were searched were at Baleswar, Bhadrak, Sundargarh and Jharsuguda.

In May last year, police in Sundargarh and Bargarh districts registered separate cases against Swastik India officials.

The CBI arrested several officials, including company founder Ranjan Dash, for allegedly duping the depositors of crores of rupees.

(IANS)