Saradha scam: CBI searches residence of ex-union minister

The CBI on Thursday carried out searches at the residence of former union minister Matang Singh, former IPS Rajat Majumdar (West Bengal cadre), executive committee member of East Bengal club Debabrata Sarkar and chairman and managing director of Saradha Sudipta Sen in connection with the ongoing multi-crore ponzi scam.

A CBI statement stated, ‘We have conducted raids at 28 locations, including the residence of Singh in Delhi and Guwahati, in connection with Saradha chit fund scam in which deposits of thousands of investors were allegedly swindled by ponzi companies.’

Sources said a team of CBI sleuths consisting of 10-15 officials each conducted the searches and raids at 28 various locations in the national capital, Kolkata, Guwahati and Odisha.

‘Searches are going on at Singh’s Gol Market residence and office in Delhi. We have also conducted raids at his wife Manoranjana’s residence too,’ he said. Singh was the former minister of state for home affairs,’ he said.

There are four FIRs against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits. In Odisha, there are 44 separate FIRs in against ponzi companies and under the investigation of the CBI.

The Supreme Court had handed over the Saradha chit fund scam to CBI and asked the state governments to provide all logistical help to the CBI.