Saradha Scam: CBI Searching Premises of 3 Senior Officials of SEBI
Moneylife Digital Team 22 March 2021
The Central Bureau of Investigation (CBI) on Monday carried out searches at six locations in Mumbai of the office premises and residences of three senior officials, including one general manager (GM) of Securities and Exchange Board of India (SEBI) in connection with the multi-crore Saradha chit fund scam. 
 
A CBI source related to the probe told IANS, "The agency is searching the official and residential premises of three SEBI officials in Mumbai, who were posted in West Bengal between 2009-13."
 
Another CBI source said that the searches are going on at the premises of a deputy general manager (DGM)-level officer and one of official is posted as general manager (GM). He, however, refused to share their identity.
 
Recently, CBI has quizzed several people connected with the Saradha chit fund scam as the state of West Bengal prepares for an eight-phased staggered Assembly election starting 27th March.
 
The Saradha scam of West Bengal came to light in April 2013 and is estimated at over Rs10,000 crore. Besides CBI, the enforcement directorate (ED) has also filed a case based on the first information report (FIR) filed by the agency.
 
Last week, Madan Mitra and Vivek Gupta, both candidates from Trinamool Congress for the Assembly poll, deposed before the ED officials in Kolkata in connection with the probe into Saradha chit fund scam. 
 
Earlier, Mr Mitra, who is a former state minister and is contesting from Kamarhati Assembly constituency, was arrested by the CBI for his alleged involvement in the case. Later, he was granted bail.
 
Mr Gupta, who is contesting the elections from Jorasanko, admitted that he knew Sudipto Sen, the owner of Saradha, and had visited the ED office to submit income-tax details. He is a former member of Parliament from Rajya Sabha.
 
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