1. Rs 17,000 crore Rose Valley Chit Fund scam: CBI arrests Trinamool Congress’ Sudip Bandyopadhyay

Rs 17,000 crore Rose Valley Chit Fund scam: CBI arrests Trinamool Congress’ Sudip Bandyopadhyay

The CBI on Tuesday arrested Sudip Bandyopadhyay, Trinamool Congress (TMC) parliamentary party leader in the Lok Sabha, for his alleged involvement in the Rose Valley chit fund case.

Kolkata | Published: January 4, 2017 6:03 AM
Lok Sabha MP, Sudip Bandyopadhyay, Chit Fund Scam Sudip Bandyopadhyay is the second TMC MP to be arrested in four days. Actor-turned-politician Tapas Paul was arrested in the same case on Friday, and is now in CBI custody in Bhubaneswar. (Source: PTI)

The CBI on Tuesday arrested Sudip Bandyopadhyay, Trinamool Congress (TMC) parliamentary party leader in the Lok Sabha, for his alleged involvement in the Rose Valley chit fund case.

Bandyopadhyay is the second TMC MP to be arrested in four days. Actor-turned-politician Tapas Paul was arrested in the same case on Friday, and is now in CBI custody in Bhubaneswar.

Bandyopadhyay, who arrived at the CBI office here at around 11 am, was arrested after he was interrogated for over four hours.

Speaking to mediapersons before entering the CBI office, he said: “It is normal for me to appear since they have summoned me. I was asked to appear today, so I am here. Moreover, I would also like to know on what basis I have been charged.”

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According to sources, the MP has been accused of cheating, conspiracy and criminal breach of trust. Bandyopadhyay is alleged to be involved in the financial transactions of the Rose Valley group, which was purportedly running a ponzi scheme.

Sources said he was questioned about his proximity to Rose Valley CMD Gautam Kundu, and about a trip to Europe which was allegedly sponsored by Rose Valley. He was also asked about his presence at a Rose Valley programme at the Netaji Indoor Stadium here.

“A few documents with his signatures were shown to him, which clearly established his involvement. He could not defend himself,” said an official involved in the investigation.

The MP will be produced before a Bhubaneswar court on Wednesday. “We want him in remand so that we can interrogate him further,” said an official.

Sources said Bandyopadhyay and Paul may be brought face-to-face for interrogation. “It is important to corroborate the statements of those arrested,” said an official.

The alleged ponzi scheme being investigated by the CBI is said to have defrauded depositors to the tune of Rs 17,000 crore. CBI and ED officials have maintained that the Rose Valley scam is “six times” bigger than the R2,460 crore Saradha scam.

-Sweety Kumari

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