"Kunal Ghosh was arrested this evening," Bidhannagar Police Commissioner Rajiv Kumar told PTI here.
Ghosh, the CEO of Saradha Group's media arm, was charged under sections 420 (cheating), 406 (criminal breach of trust) and 120B (conspiracy) of the IPC, deputy commissioner of Bidhannagar Police, Arnab Ghosh, said at a press conference.
The arrest was made in connection with a complaint filed by the general manager of a company Broadcast Worldwide, Arnab Ghosh said.
"The evidence we have got indicates that Kunal Ghosh was involved in the conspiracy along with Saradha Group chairman Sudipta Sen and others," he said.
Investigation is on, the DCP said.
Meanwhile, Kunal Ghosh filed an FIR against Arnab Ghosh, the deputy commissioner (detective department) at the same police station in the afternoon, where he was then grilled by the police.