Four held in chit fund case

New Delhi, Sep 28 (Bureau) The Central Bureau of Investigation (CBI) on Tuesday arrested then Deputy Registrar of Companies, Kolkata and three others including Founding Director, Territory Manager of private companies in an investigation of a case related to alleged chit funds. CBI had registered a case in compliance with orders of Supreme Court against then MD of a private company and others and took over the investigation of the case, earlier registered at Baliapal Police Station, district Balasore in Odisha, CBI in a statement said.It was alleged that the accused illegally collected public deposits throughout Odisha by alluring the public with various deposit schemes falsely promising high returns and did not refund the maturity amount and thereby cheated the investors of their due amount.

The total collection of the company was about Rs 565 crore, it stated. In this case, two chargesheets were filed during 2016 and November 2021 before the Special CJM, CBI Cases in Bhubaneswar. Further investigation was continuing to look into the larger conspiracy, money trail and roles of regulatory authorities, it added. During investigation, it was revealed that the accused (private persons) had allegedly associated themselves with the illegal ponzi schemes of FIR named accused and others also allegedly received huge pecuniary benefits for themselves out of the illegally collected deposits by the said private company. Then Deputy Registrar of Companies, Kolkata had allegedly facilitated the illegal deposit collection business of said FIR named private company, abusing his official position, the statement stated.