The Central Bureau of Investigation (CBI) remand of Trinamool Congress (TMC) MP Tapas Paul was on Tuesday extended for three more days in connection with the Rose Valley chit fund scam.
The decision came hours after TMC MP Sudip Bandhopadhyay was arrested by the CBI for his alleged involvement in the same scam.
The special Chief Judicial Magistrate CBI Court has on December 31 last year rejected the bail plea of Paul, sending him to three days of CBI remand.
Paul was arrested by the CBI on December 30 last year for his alleged involvement in the scam, in which thousands of small investors were allegedly cheated. He was questioned for hours by the CBI before his arrest and his house was also raided.
The actor turned politician was a director in two companies of the Rose Valley, a leisure and entertainment group, that has been accused of illegally accumulating Rs.17,000 crores in small savings through a Ponzi scheme. The group has been under investigation for almost two years.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
