Saradha scam: CBI raids underway at six locations in Mumbai

Mumbai (Maharashtra) [India], March 22 (ANI): The Central Bureau of Investigation (CBI) on Monday conducted raids at six locations in Mumbai in connection with the Saradha scam case.
The investigation agency raided the locations included the residence and office premises of three senior Securities and Exchange Board of India (SEBI) officials, sources said.
The officials' role allegedly came under the scanner during their posting in the market regulator's Kolkata office between 2009 and 2013.
The Centre has undertaken a multi-agency probe into the alleged financial scam and political scandal, including through the Income Tax Department and the Enforcement Directorate (ED).
Prominent personalities, including politicians, have been accused of involvement in the scam. The raids come at a time when the Assembly election campaign is picking up pace in West Bengal.
On March 19, the ED summoned Trinamool Congress (TMC) leader Madan Mitra in connection with the multicrore Saradha chit fund scam.
The Saradha Group of companies had allegedly duped people to the tune of Rs 2,500 crore, promising higher rates of return on their investments. (ANI)