Charges framed in MPS Group scam

Kolkata: Charges have been framed in connection with the chit fund scam of the MPS Group. According to sources, charges were framed against Chief Managing Director Pramathanath Manna and the company MPS Greenary Developers Limited.

Charges have been framed under various sections of the Indian Penal Code (IPC) on charges of criminal conspiracy (120B IPC), cheating and dishonestly inducing delivery of property (420B IPC) and criminal breach of trust by public servant, or by banker, merchant or agent (409 IPC). According to the sources, the charges were framed in Bidhannagar Court on Thursday.

It has been learnt that the Central Bureau of Investigation (CBI) had filed a chargesheet in connection with the case in June and the investigating officers had come to know that the group had collected Rs 2,900 crore from the market through various chit fund schemes. The investigating officers also came to know that CBI is continuing its probe in connection with this case.

This comes at the time when CBI has taken up cases to probe 25 other financial institutions in the state, which allegedly collected money illegally.

So far, the central investigating agency had been carrying out probe against 56 such companies. Now, the number has gone up to 81.