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CBI arrests two in ponzi scam case

Press Trust of India  |  Kolkata 

The Special Crime Branch of the today arrested two persons belonging to chit fund company Prayag Group after their interrogation at the CGO complex here.

A senior official told PTI that the CMD of Prayag Group, Basudeb Bagchi, and his son, Avik Bagchi, were arrested on the basis of a case registered in


The official said that the firm had mobilised more than Rs 1,900 crore from the public by floating illegal schemes.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 15 2017. 19:13 IST
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