CBI arrests one in chit fund scam case
Dec 11, 2021
New Delhi [India], December 11 : The Central Bureau of Investigation (CBI) on Friday arrested a man in connection with the chit fund scam case in West Bengal.
According to CBI, it had taken over the case from Kulti police station where it was registered on the directive of the Supreme Court.
"It was alleged that the accused persons (Trustees of a Trust) lured people to invest in their schemes with a promise of high rate of returns at maturity without the requisite permission from the regulatory authorities. It was further alleged that a large number of investors invested their hard-earned money with the Trust. Further, it came to light that the trustees failed to repay the maturity amount, cheated the investors, misappropriated their hard-earned money, closed down the branches and fled," read the release by the CBI.
During the investigation, it was revealed that the arrested accused was closely associated with the trust and the trustees. It was further alleged that the accused was associated in registration of the trust and allowed the trust to carry on its business of illegal deposit collection from his commercial complex. Searches were conducted at the premises of the accused which led to the recovery of several incriminating materials.
The arrested accused was produced on Friday before the court of CJM, Asansol and was remanded to 2 days' police custody.
