Press Trust Of India
Kolkata, Jan 31: The Central Bureau of Investigation (CBI) Saturday arrested former Union minister of state for home affairs Matang Sinh in connection with the Saradha chit fund scam case, making him the first former central minister to be apprehended by the agency in the case.
CBI sources said Sinh has been arrested for alleged criminal conspiracy, cheating and misappropriation of funds related to Saradha Realty, one of the companies of the group that is being probed by the agency.
Sinh was called to the headquarters of the Special Investigation Team in Kolkata where he was grilled by the team for more than five hours before being arrested, sources said.
CBI sources said the arrest became imminent as he was not cooperating with the investigation team on some important issues prompting the agency to take him into their custody during which another round of questioning might take place.
Recently, CBI has arrested Saradha Realty director Shibnarayan Das whose interrogation has given some vital leads about the alleged role of Sinh in Saradha Realty, which was used for duping thousands of gullible investors in the case, sources said.
Das, who was on the run, was nabbed in Kolkata and a fully-loaded 0.38 calibre revolver was seized from him.
Sources said it was Das who had allegedly suggested to Sudipta Sen, the chairman of Saradha group to start a chit fund company and lure investors to deposit in their schemes in 2008, promising attractive returns.
CBI sources said that after establishing the Saradha group July 8, 2008, Sen had appointed Das as a director and shareholder.
Das had suggested that while 30 per cent of the deposits would be retained by them, the rest could be returned to investors after 10-12 years at a decent interest, according to sources.
CBI has so far registered four cases against the Saradha group in West Bengal on the directions of the Supreme Court.