Overview

• A CBI team from Bhubaneswar traced him to Karur on August 3 and secured a remand order from the Special Chief Judicial Magistrate Court through August 18.
• Officials accuse Rightmax Technotrade International Ltd.’s director of orchestrating a chit fund scheme registered in 2014 that violates the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
• Investigators say the scheme lured hundreds of investors in Odisha’s Ganjam and Gajapati districts with promises of Rs. 1,000 monthly returns for 33 months on a Rs. 10,000 deposit.
• Declared a proclaimed offender in 2019, Sivakumar had evaded arrest since 2018 by frequently changing his whereabouts across state lines.
• Probes now focus on tracing funds and questioning associates to determine the total scale of the alleged fraud.