The Central Bureau of Investigation (CBI) on Tuesday arrested former IPS officer Rajat Majumdar in the multi-crore Saradha Scam.
Majumdar, who had served as the Director General of Police (West Bengal), is also a prominent Trinamool Congress leader.
A CBI spokesperson, confirming the arrest, said that the charges include conspiracy, cheating and misappropriation of funds. This is the third arrest made by the central agency in relation to the scam.
According to CBI sources, Majumdar was appointed as a security consultant with the Saradha Group and was later believed to have been involved with the firm’s daily operations.
He was twice summoned for questioning by the central agency with relation to the Saradha scam. Searches were also carried out by the agency at his Bhawanipore residence. The arrest was made after the investigators found incongruity in the former IPS officer’s statements.
The Saradha Group, involved in deposit collection and ponzi schemes, went bust in April 2013 duping lakhs of investors across West Bengal, Odisha, Bihar and Assam.