Kolkata, Sep 16: The Central Bureau of Investigation has arrested three former directors of two Kolkata-based private companies in connection with the two chit fund scam cases on Thursday.
According to the CBI spokesperson, the accused had hatched a criminal conspiracy with others and illegally collected around Rs 565 crore from poor investors after fraudulently promising them high returns without any permission from regulatory bodies.
In pursuance of that, they allegedly committed cheating and criminal misappropriation of public funds, the spokesperson added.
The case was registered on June 6, 2014 as per the orders of the Supreme Court dated 9.5.2014 which were passed in a writ petition against the officials of the said company.
During the ongoing investigation into another chit fund case, CBI officers arrested a former director of another Kolkata based private company for allegedly hatching a criminal conspiracy and illegally collecting approximately Rs 60 crore from poor investors by promising high returns, without any permission from the regulatory bodies.