Trinamool MP Tapas Pal Arrested in Rose Valley Chit Fund Scam

Trinamool Congress MP Tapas Pal/TV Grab

Trinamool Congress MP Tapas Pal/TV Grab

Actor turned Trinamool Congress MP Tapas Pal was arrested on Friday by the CBI in connection with the Rose Valley group chit fund scam case.

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New Delhi: Actor-turned-Trinamool Congress MP Tapas Pal was arrested on Friday by the CBI for his alleged involvement in Rose Valley group chit fund scam.

Earlier on Friday, Tapas was summoned by the investigative agency in connection with chit fund case and he was questioned for 4 hours.

Pal, an MP from Krishnanagar constituency in West Bengal, is believed to be a former director with the Rose Valley group, which is in the eye of a storm for a chit fund scam which is allegedly bigger than the Saradha scam.

The CBI had raided Pal's residence last year and the Enforcement Directorate (ED), which is also probing the scam, has sealed over 2,600 bank accounts across the country. The Securities and Exchange Board of India (SEBI) has been probing the company since 2013.

The CBI had earlier this year filed a charge sheet against Rose Valley chairman Gautam Kundu and three other accused.

The development comes days after West Bengal Chief Minister Mamata Banerjee accused the Central government of using the Central probe agencies to put pressure on its leaders, who have been protesting against demonetisation.

Union minister Babul Supriyo said, "Personally I am sad to see him under arrest. But the law needs to take its course".

In Kolkata, the ruling Trinamool Congress alleged that Pal was arrested because the party has been vociferously opposing the demonetisation move.

"So now political atrocities against those opposed to #notebandi," TMC leader Derek O'Brien tweeted.

"Many film stars directors, sportspersons are brand ambassadors. So what next? Those from BIP who are brand ambassadors will also be? Right?" he tweeted.

Rose Valley Group has been under scanner of the various probe agencies for almost two years.

According to reports, Rose Valley chit fund scam amounts to almost Rs 60,000 crore. The scam is believed to be the biggest ponzi fraud in India and the scam itself is at least seven times bigger than Saradha scam.

ALSO READ: Quick Facts on Arrested TMC MP Tapas Pal

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