Following the arrest of Sudipto Sen, promoter of disgraced Saradha Group for allegedly defrauding investors, the Serious Fraud Investigation Office (SFIO), Enforcement Directorate (ED) and SEBI have turned on the heat against chit fund companies in West Bengal and Assam, running Ponzi schemes under the guise of social security.
A top official confirmed that the list of 10 such companies were handed over to the SEBI and the RBI, including details of the Saradha group.
“A copy was also forwarded to the SFIO and Prime Minister’s Office(PMO) for further probe into the irregularities committed by the (chit)companies operating in West Bengal and Assam. There was a procedural delay in launching a probe against these companies,” he said.
Speaking to Express, Assam Home Secretary G D Tripathy said the state CID had launched a probe into the functioning of the chit companies operating in the state.
The CID sleuths are looking into some 120 Ponzi schemes and the cases.
The cases which require coordination with the other states and the Central agencies will soon be handed over to the CBI.