CBI today arrested Biju Janata Dal Mayurbhanj MP Ramchandra Hansda and two former MLAs Subarna Naiak and Hitesh Bagarti for their alleged links with multi-crore chit fund scam in Odisha. CBI sources said the three have been arrested by the special investigating team of CBI on charge of criminal conspiracy, cheating and diversion of funds.

The three leaders were former directors of Naba Diganta Capital Services Limited, a ponzi group. The CBI has been probing the activities of 44 ponzi companies in the state which allegedly duped thousands of investors deposits.

Earlier, during a raid on Hansda's house in Mayurbhanj district in July, the agency had recovered 28 lakh rupees. The arrest of Hansda came as a fresh embarrassment for the ruling BJD coming close on the heels of the arrest of BJD MLA and former government chief whip Prabhat Tripathy by CBI on October 31.