The Central Bureau of Investigation has arrested a Chief Managing Director of a private company from Palghar (Maharashtra) in an on-going investigation of a case related to Chit Fund Scam.
CBI had registered a case on 08.06.2017 against the CMD of private company based at North 24 Paraganas (West Bengal) & others including two Directors, Branch Manager etc. The instant case was one of the cases registered on the orders of Supreme Court of India. It was alleged that the accused had entered into conspiracy with an ulterior motive of siphoning off the illegally collected money amounting to Rs. 38 crore (approx.) from the investors under various fraudulent schemes on assurance of paying high returns on such investments on maturity and later closed its operation & fled away by cheating the said investors for their due amount, and misappropriated the money invested with the accused company. It was further alleged that an amount of Rs.5,65,18,924/- (approx.) was also diverted from company’s account to the bank account of CMD, which was misappropriated by the accused.
The arrested accused was produced before the Court of ACJM, Barrackpore, North 24 Paraganas, Kolkata and has been remanded to 5 days Police Custody.