Trinamool Congress MP Tapas Pal has reportedly been arrested by the Central Bureau of Investigation (CBI) for his alleged involvement in the Rose Valley scam.
This is the first arrest of any major political functionary in the scam.
Pal was apparently arrested today after four hours of questioning by the investigating agencies.
Incidentally, CBI had recently summoned Trinamool Congress MPs Sudip Bandopadhyay and Tapas Pal for their alleged involvement in the scam.
An official confirmation from CBI is yet to be received.
Apart from Saradha, Gautam Kundu-owned Rose Valley was the other major deposit taking company operating out of West Bengal.
According to sources, Rose Valley had mobilised far more deposits than the Saradha Group. In March 2015, Kundu was arrested by the Enforcement Directorate.