CBI Arrests a Private Person in An Ongoing Investigation of a Chit Fund Scam Case
(Judicial Quest News Network)
The Central Bureau of Investigation has arrested a private person in an ongoing investigation of a case related to chit fund scam involving a Kolkata based private company.
Searches were conducted at 02 places in West Bengal which led to recovery of several incriminating documents.
It was alleged that the said accused entered into a conspiracy with other Directors of Kolkata based private company which resulted in misappropriation & siphoning off the fund illegally collected by the private Company from gullible investors. The accused allegedly acted as a middle man between said private company & the regulators and got undue approvals in favour of the said company from the regulatory authorities.
CBI had registered the instant case on 05.06.2014 pertaining to the private company & others who collected funds to the tune of Rs.565 crore (approx).
The arrested accused is being produced today before the Competent Court at Kolkata.
