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CBI raids magician PC Sorcar Junior's residence in chit fund probe

The action was necessitated as some financial links allegedly between Sorcar and the now-defunct ponzi company Tower Group were unearthed, they said.

Published: 29th January 2021 06:49 PM  |   Last Updated: 29th January 2021 06:49 PM   |  A+A-

After demonetisation, raids were almost a daily affair for the Enforcement Directorate, IT personnel and CBI. Over Rs 266 crore found at a Malappuram bank and the raids on the former TN Chief Secretary Rama Mohana Rao at his office and residence were a few instances that stood out.

For representational purposes

By PTI

KOLKATA: Officials from the economic offences wing of the CBI on Friday carried out a search operation at the residence of noted magician P C Sorcar Junior, sources said.

The action was necessitated as some financial links allegedly between Sorcar and the now-defunct ponzi company Tower Group were unearthed, they said.

The chit fund company is alleged to have transferred money to the bank account of Sorcar, who was the brand ambassador of Tower Group at one point of time, the CBI sources said.

The search operation lasted for around two hours at his Mukundapur residence, the aim of which was to get hold of documents related to the association between the renowned magician and the firm, they added.

Sorcar could not be contacted for comment.



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