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SIT formed to probe Saradha scam

| | May 13, 2014, at 01:08 am
New Delhi, May 12 (IBNS): The Central Bureau of Investigation on Monday formed a Special Investigation Team (SIT) to investigate the Saradha ponzi meltdown scheme.

“The agency has set up the SIT under Joint Director (North-East) to look into the alleged scam. The CBI officials from West Bengal, Odisha, North-East States and Bihar will also be part of the team,” said a CBI official  to The Hindu.

The Supreme Court on Friday directed a CBI probe into the Saradha chit fund scam.

The apex court gave its verdict after hearing three petitions - two from West Bengal and one from Odhisa - on the case.

The  Enforcement Directorate  (ED) had cracked whip on the Saradha family and associates of late taking in custody jailed Saradha chief Sudipta Sen's wife Piyali Sen and his son Subhajit in a money laundering case.

Sudipta Sen, the Chairman and Managing Director of Saradha Group, which allegedly defrauded thousands of small investors, is now in jail in the ponzi scam. Media personality and TMC Rajya Sabha MP Kunal Ghosh is also in jail in the scam.

Sen had claimed that he was blackmailed and used by politicians mainly from Mamata Banerjee's TMC.

Sen and Saradha Group director Debjani Mukherjee were arrested in April 2013 from Jammu and Kashmir. He was absconding since Saradha Group collapsed. 

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