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West Bengal: CMD, Director of Jungantor group arrested in Ponzi scam

ANI  |  General News 

The Central Bureau of Investigation (CBI) has arrested the CMD of Jungantor Realty Limited and director of Jangantor Gold and Jewelry for duping investors through a ponzi scheme and committing fraud of over Rs 78 crore in West Bengal.

The CMD Ajay Chakroborty and director Sanjit were arrested on Tuesday.

It is a case related to Ponzi scheme and the said firm had allegedly collected crores illegally by fraudulently duping the investors, CBI said. During the investigation, it was found that these two accused in a joint criminal conspiracy with other company had illegally collected the money under various fraudulent schemes assuring higher returns.After the arrest, the duo was produced in Asansol court.

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

First Published: Wed, December 04 2019. 04:54 IST