The CBI on Sunday registered five FIRs against four chit fund groups after a preliminary investigation reportedly revealed the involvement of some "high and mighty", including not only politicians but also a couple of bureaucrats who had invited the organizations to set up business in Bengal, Tripura and Assam. One of the firms was reportedly an associate sponsor for a cricket tournament played overseas by the Indian team earlier this year.
The central agency, which has to probe 44 Ponzi firms in east India, registered the cases based on chit fund firms operating out of Assam.
All these companies have managed to run their business even in the face of extensive crackdown. In fact, one of the firms even doled out "returns" to over 18,500 depositors to stay in business and turned into the cricket team associate sponsor. The firms against which the FIRs have been registered are Prayag Hi-Rise Infotech Private Limited, Uro group, Silicon Multiservice Limited and Rose Valley. At least three of these chit fund firms have either their headquarters or a strong presence in Bengal.
Apart from Saradha group, the CBI has so far started investigations against 19 firms, chief among them being Rose Valley, MPS, Silicon, Ramel and Angel Group. Only I-Core remains to be probed by CBI. While the state CID has already arrested senior officials in the I-Core alleged scam, the ED is also looking into its alleged violations.
CBI books four chit fund firms with neta link - The Times of India
