Monday, February 8, 2016

CBI probing 243 ponzi schemes

The Supreme Court on Monday said it was actively supervising the CBI probe into 243 cases relating to chit fund scams in West Bengal, Odisha, Assam and Tripura while declining to monitor investigations into cases in Odisha.

However, the court said it would not dilute the focus of the investigation by permitting the CBI to leave out cases involving smaller amounts. It said the mandate of the agency was to unearth the entire scam -- the companies behind it and the politicians who aided and abetted the lynchpins of the scam.

A bench of Justices T S Thakur and C Nagappan declined petitioner Alok Jena's request to monitor the CBI probe into chit fund scam cases in Odisha after the CBI, through solicitor general Ranjit Kumar, presented a status report of the probe in various states.

In West Bengal, the CBI has taken up 146 cases, of which 76 FIRs related to Saradha group. The state police are investigating 393 FIRs against Saradha group and has filed charge-sheet in 317 cases.

In Odisha, the CBI has taken over investigations into 87 cases and has registered FIRs in 44 of them. The state police have so far filed 126 charge-sheets in chit fund scam cases. In Assam and Tripura, the CBI has taken over five cases each for investigation.


"Total of 65 cases is being investigated by the CBI involving 58 companies," additional solicitor general Maninder Singh informed the court.

But the CBI also informed the court that it was fatigued looking into voluminous documents seized during investigations into 243 chit fund scam related cases. It suggested to the court that it be permitted to devise a plan of action to effectively investigate the cases.


The court gave it two weeks to prepare a plan of action and posted the case for further hearing on

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