Former MLA Malla Vijay Prasad, who is currently the Chairman of Andhra Pradesh Education and Welfare Infrastructure Development Corporation (APEWIDC) and senior leader of YSR Congress Party, filed a bail petition in the Court of Odisha Protection of Interests of Depositors in Cuttack, on Monday.
It may be recalled that the officials from the Economic Offences Wing (EOW) of CID (Crime Branch), Odisha, had arrested Malla Vijaya Prasad from his residence in Visakhapatnam a few days ago in connection with the alleged Welfare Buildings and Estates Pvt Ltd chit fund scam in Odisha.
Meanwhile, it is learnt that the Odisha police also filed a petition in the court seeking three-day custody of the YSRCP leader for questioning in the case.
The enforcement agency is probing into the financial trail of the Ponzi firm and to see if the money allegedly collected fraudulently from the investors was utilised by the accused for other purposes. The court will hear both petitions on Tuesday.
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