New Delhi: The CBI on Wednesday carried out raids at 82 places in four cities in connection with two cases related to the multi-crore rupee chit fund scam, an official said.
The agency conducted raids at 82 locations in Jharkhand, Bihar, Odisha, West Bengal and Andhra Pradesh, including at the residence and office premises of the then managing directors of a group of 33 companies and a former MLA of Visakhapatnam in Andhra Pradesh, who was the then managing director of a company.
“We recovered Rs.44.90 lakh from the residence of the former MLA and Rs.16.80 lakh from the residence of the then director of a private company along with various incriminating documents related to the cases,” the official said.
The Central Bureau of Investigation had earlier registered two cases against the group of companies, its then managing directors, then directors and others, on the directions of the Jharkhand High Court.
“It was alleged that the companies and their officials were involved in receiving huge public deposits illegally and fraudulently by way of cheating common people with false promises of high rate of interest, issuing share or debenture, private placement, purchase of land, product purchase and booking,” CBI spokesperson Devpreet Singh said.
The official said the accused allegedly siphoned off the huge funds received illegally and dishonestly to the individual accounts of persons, firms and companies.