New Delhi: The Central Bureau of Investigation has arrested a Chief Managing Director of a private company from the Palghar area in Maharashtra in an ongoing investigation of a case related to the Chit Fund scam.
The bureau had registered a case on June 8, 2017, against the CMD of a private company based at North 24 Paraganas in West Bengal and others including two directors, branch manager etc.
The instant case was one of the cases registered on the orders of the Supreme Court of India.
As per the official release by the bureau, it was alleged that the accused had entered into a conspiracy with an ulterior motive of siphoning off the illegally collected money amounting to Rs 38 crore (approximately) from the investors under various fraudulent schemes on assurance of paying high returns on such investments on maturity and later closed its operation and fled away by cheating the said investors for their due amount, and misappropriated the money invested with the accused company.
Further, it was alleged that an amount of Rs 5,65,18,924 (approximately) was also diverted from the company's account to the bank account of CMD, which was misappropriated by the accused.
The arrested accused was produced before the Court of Additional Chief Judicial Magistrate (ACJM), Barrackpore, North 24 Paraganas, Kolkata and has been remanded to five days of police custody.
Further probe in the matter is underway.
