CBI issues lookout notice against former Kolkata top cop Rajeev Kumar in Saradha scam case

The Central Bureau of Investigation (CBI) has issued a lookout notice against former Kolkata police commissioner Rajeev Kumar in connection with the multi-crore Saradha chit fund scam case.

Rajeev Kumar’s plea seeking extension of his protection from arrest, which ended on Friday, was dismissed by the Supreme Court.

The Supreme Court Friday dismissed a plea of former Kolkata Police Commissioner Rajeev Kumar seeking extension of protection from arrest in the multi-crore Saradha chit fund scam case.

In its May 17 order, the top court had also expressed concern over the confrontation between the CBI and the West Bengal Police in the case, saying “at the receiving end are silently waiting lakhs of small town and rural investors who have been deprived and looted of their savings”.

The court had also noted that the West Bengal government and Kumar have alleged “political vendetta” and have made allegations against M Nageswara Rao, a former interim CBI director.

Kumar in an affidavit before the court had alleged that he was targeted by the CBI in the chit fund case due to “mala fide intent” and “conflict of interest” of Rao as his family members were under the scanner post-demonetisation.

The CBI had informed the Supreme Court that Rajeev Kumar “destroyed and tampered” the material evidence in the form of CDRs of the prime accused and potential accused.

CBI began investigating the Saradha chit fund scam in 2014. At least 1.7 million depositors were duped to the extent of Rs 3,500 crore. Saradha founder Sudipta Sen has written a confessional letter to CBI in 2013 in which he admitted that he had paid large sums of money to several politicians, businessmen, journalists and others.

The company’s modus operandi was to lure investors to deposit money in its schemes promising abnormally high returns.

First Published:
May 26, 2019 11:31 IST

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