Saradha scam case: The locations being raided by the CBI included the residence and office premises of three senior Securities and Exchange Board of India (SEBI) officials.
The Central Bureau of Investigation (CBI) on March 22 conducted raids at six locations in Mumbai, Maharashtra in connection with the Saradha scam case, news agency ANI reported.
The locations being raided included the residence and office premises of three senior Securities and Exchange Board of India (SEBI) officials.
The officials’ role reportedly came under the scanner during their posting in market regulator’s Kolkata office in West Bengal between 2009 and 2013.
The case relates to an alleged financial scam and political scandal caused by the collapse of a Ponzi scheme run by the Saradha Group. The Centre has undertaken a multi-agency probe into the scam case, including through the Income Tax Department and the Enforcement Directorate (ED).
Many prominent personalities, including politicians, Members of Legislative Assembly (MLAs) and Members of Parliament (MPs), have been accused of involvement in the scam. The raids come at a time when the assembly election campaign is picking up pace in Bengal.