Rose Valley Chit-Fund scam: Tapas Pal sent to 14-day judicial custody

3 months ago | 06-01-2017 | ANI

Bhubaneshwar (Odisha) , Jan. 6 : The Central Bureau of Investigation (CBI) court here on Friday sent Trinamool Congress (TMC) Member of Parliament (MP) Tapas Pal on 14-day judicial custody in connection with the Rose Valley Chit-Fund scam.

The decision came hours after TMC MP Sudip Bandhopadhyay was arrested by the CBI for his alleged involvement in the same scam on January 3.

The special Chief Judicial Magistrate CBI Court had on December 31 last year rejected the bail plea of Pal, sending him to three days of CBI remand.

Pal was arrested by the CBI on December 30 last year for his alleged involvement in the scam, in which thousands of small investors were allegedly cheated. He was questioned for hours by the CBI before his arrest and his house was also raided.

The actor turned politician was a director in two companies of the Rose Valley, a leisure and entertainment group, that has been accused of illegally accumulating Rs.17,000 crores in small savings through a Ponzi scheme. The group has been under investigation for almost two years.