SRINAGAR: A man believed to be the key accused in the West Bengal chit-fund scam has been detained in Kashmir valley, police say.
The West Bengal police had provided the local police with a description of Sudipta Sen, promoter of the Saradha group involved in ponzie schemes and two of his aides.
They had reportedly even specified the location of the accused.
A senior officer of Kashmir police told Freepress that the trio fit in the description provided by the Bengal police. But he said they will be formally arrested only after their identity is clearly established.
An officer of the West Bengal Police has reached Srinagar.
The West Bengal-based Saradha Group was one of the largest chit fund companies in eastern India.
Its promoter, Sudipta Sen, is known as the king of ponzie schemes – paying returns from the money paid by subsequent investors, rather than from the profits generated from legitimate businesses.
Sen reportedly fled West Bengal with a Rs 20,000 cr kitty, leaving lakhs of people, many of them poor, cheated and devastated.
