Saturday 01 October 2016
facebook.com/Outlookindia twitter.com/outlookindia digimag.outlookindia.com instagram.com/outlookindia youtube.com/user/OutlookMagazine

Saradha Scam: CBI Arrests East Bengal Club Official

New Delhi

CBI today arrested an official of East Bengal football club Debabrata Sarkar in connection with Saradha chit fund scam in which deposits of thousands of investors were allegedly swindled by ponzi companies.

CBI sources said Sarkar was allegedly the middleman between the Saradha group and regulatory bodies like SEBI. He was arrested in Kolkata, they said. The CBI had earlier taken into custody six people in connection with the scam.

The sources said Sarkar is accused of conspiring with Saradha top brass in the alleged misappropriation of funds of the company.

The agency had recently carried out searches at his residence from where it recovered incriminating documents and Fixed Deposit Receipts worth Rs 25 lakh, the sources 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 probe to CBI and asked the state governments to provide all logistical help to the CBI team investigating 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.

© Copyright PTI. All rights reserved. Republication or redistribution of any PTI content, including by framing or similar means, is expressly prohibited without their prior written consent.
Plea Claiming Incorrect Options in DJSE Exam: HC Reserves Order Curfew in Parts of Kashmir, Youth Killed, Toll Rises to 58
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
OUTLOOK ON TWITTER
POLLS

More than a decade after India first started the procurement process, it has finally inked an €8bn agreement to buy 36 Rafale fighter jets from France’s Dassault. The original deal was to buy 126 Rafales to replace the accident-prone Russian MiG-21s. Ultimately, the government offered to buy only 36 ready-to-fly planes.

POLL STARTED ON: Sep 26, 2016
Quiz
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016
Advertisement