Millennium Post

Vibgyor chit fund group owner nabbed

Kolkata: The Kolkata Police on Monday night arrested the owner of a chit fund company based in Kolkata from Delhi airport. Raj Bhadra, the CMD of Vibgyor Group was picked up by the special cell of detective department of Kolkata Police. The accused had allegedly collected funds of Rs 500 crore from common people with the promise of high returns but had cheated them. The police had released a look-out notice against Bhadra. The accused has already been brought to the city on transit remand and will be produced in a city court on Wednesday.
A senior official of Kolkata Police said that a complaint was lodged with Entally police station in May 2015 that Bhadra had taken Rs 8.27 lakh from him promising him to offer him an apartment in Rajarhat. However, following the compliant the accused had fled abroad. The police then issued look out notice against him at all the airports in the country.
"We have been on the alert and had activated our source. We had the tip-off that he was planning to come to the city. Accordingly he was nabbed," an official in KP's special cell said.
The wife of the accused, Nargis was arrested by the police in March 2015 from Kolkata airport while she was trying to flee to Dubai. The police had closed all the branch offices of the group following her arrest. "We will now grill the accused," a senior police officer said.
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