CBI today carried out searches at 28 locations including the residence of former Union Minister Matang Sinh here in connection with Saradha chit fund scam in which deposits of thousands of investors were allegedly swindled by ponzi companies.
The agency teams of about 10-15 officials each carried out searches at 28 locations spread across the national capital, Kolkata, Gauhati and Odisha in connection with CBI FIRs against Saradha group, CBI sources said.
The searches are going on at Gol Market residence and office here of Sinh, who was former Minister of State for Home Affairs, residences of his former wife Manoranjana, former IPS Officer Rajat Majumdar, Executive Committee member of East Bengal club Debabrata Sarkar and Chairman and Managing Director Saradha Sudipta Sen, they said.
There are four FIRs against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits. Besides there are 44 FIRs in Odisha against ponzi companies.
The Supreme court had handed over the Saradha chit fund scam to CBI and asked the state governments to provide all logistical help to the CBI team probing the matter.
CBI has formed a Special Investigating Team (SIT) headed by Joint Director Rajeev Singh to also probe the role of Securities Exchange Board of India (SEBI) and RBI.
"Investigation conducted so far puts a question mark on the role of regulatory authorities like SEBI, Registrar of Companies and officials of RBI within whose respective jurisdictions and areas of operation the scam not only took birth but flourished unhindered," an apex court bench headed by Justice T S Thakur had said in its order.