Supreme Court orders CBI probe into Saradha scam

A big blow to the Mamata Banerjee government in West Bengal as the Supreme Court on Friday ordered a CBI probe into the multi-crore Saradha chit fund scam.

Justice TS Thakur bench said that the investigating agency will also look into any other chit fund in the state.

“In view of inter-state ramifications, involvement of higher ups, including politicians and aspects of money laundering, a CBI probe is necessary,” the SC said.

Saradha owner Sudipta Sen was arrested last year following the exposure of the scam in which lakhs of investors were cheated in West Bengal and neighbouring states.

Mamata Banerjee’s party has been facing the heat as the names of some TMC leaders are surfacing in links with Saradha. Trinamool MP Kunal Ghosh was already arrested and sent to jail for connection with the alleged scam.

West Bengal government had opposed the CBI probe in the court by saying that there was no need for a CBI probe SIT had made substantial progress.
Reacting to SC order, State finance minister Amit Mitra said, “We welcome the order although it has come just two days before the last phase of the Lok Sabha poll.”

“It is heartening to note that the SC has praised the work so far by the Special Investigation Team (SIT) formed by the state government in connection with the Saradha scam, although the judgement is yet to be seen,” he added.

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