CBI probing larger conspiracy angle in ponzi schemes: Jayant Sinha

NEW DELHI: In the wake of rising incidents of fraudulent money pooling schemes in West Bengal and Odisha, CBI is probing the possible involvement of political and other influential people, Minister of Finance Jayant Sinha said in Parliament today.

"In compliance with order of Supreme Court...57 cases have been registered in the states of West Bengal and Odisha by CBI. 47 persons have been arrested in different chit fund scams in West Bengal and Odisha.

"CBI is also investigating the larger conspiracy angle, the involvement of political and other influential personalities in these cases as well as the money trail and the role of regulators like SEBI, authorities under Companies Act and Reserve Bank," he said in a written reply in Rajya Sabha.

He said the Ministry of Corporate Affairs had ordered investigation into affairs of 95 companies against whom complaints have been received for alleged collection of funds from people of West Bengal and Odisha.

Sinha said investigations with respect to Saradha Realty India Ltd and its 13 group companies and Rose Valley Real Estate and Construction and its 18 group companies have been completed.