Sunday, 26 June 2016

CBI CONDUCTS SEARCHES IN AN ON-GOING INVESTIGATION OF A CASE RELATING TO CHIT FUND

The Central Bureau of Investigation has today conducted searches at 05 locations in the premises of the then MD/Directors of Kerala based private firm; their associates located in the Banka & Bhagalpur Districts of Bihar and Trichur & Pathanamthitt Districts of Kerala in an on-going investigation of a case relating to chit fund.
CBI had earlier registered a case against then MD/Director of Kerala based private form & their associates, on the directions of the Hon’ble High Court of Jharkhand. It was alleged that the accused persons had received huge funds from many persons/investors, which were deposited in various bank accounts of said firm of Kerala giving false promises of huge benefits to the investors in the form of share/debenture/money back schemes/high interest rate on the deposited amount etc. The accused were allegedly involved in siphoning/diverting the received funds illegally to their individual use.

During searches, various incriminating documents related to the case have been recovered.

Further investigation is continuing.