CBI arrests MD in ponzi scam probe case
The CBI has arrested the MD of a firm in connection with its probe in an alleged ponzi scam to the tune of over Rs 9 crore, an agency spokesperson said on Friday.
He said Siddhartha Nag, Managing Director (MD) of Seba Real Estate Limited, was arrested in connection with a chit fund probe case and was produced before a local court here on Thursday for obtaining a transit remand for Siliguri in West Bengal.
"Nag and other directors of the company had illegally collected Rs 9.13 crore from gullible investors under various fraudulent schemes on assurance of paying high returns on such investments on maturity," the spokesperson said.
The agency had filed a case in this context in 2017.
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