CBI arrests Bengali film producer Shrikant Mohta

Kolkata: Renowned Bengali film director Shrikant Mohta was arrested by the Central Bureau of Investigation (CBI) on Thursday for allegedly defrauding ponzi chit fund company Rose Valley.

It has been alleged by the investigating agency that Mohta has duped Rose Valley chief Gautam Kundu by taking Rs 24 crore for the making of several films. Mohta is the co-founder of Shree Venkatesh Films, which has produced over 120 films.

According to the CBI, investigation has revealed that in pursuance of criminal conspiracy with said group of companies, the accused allegedly misappropriated Rs 24 crore (approx) in the name of producing films and siphoned off this money illegally collected by the said ponzi scheme company from the residents of Bengal, Assam, Odisha and elsewhere. It was further alleged that he invested part of funds in the procurement of paintings through a private film company and he also foisted other accused persons in ponzi scheme cases to make similar purchases. The private group of the chit fund company had collected Rs 15,000 crore(approx) from the public.