The CBI on Tuesday arrested Pailan group chief Apurba Saha for illegally raising from the public through 'fraudulent schemes' in a Rs 574-crore ponzi scam case, officials said.
Saha was arrested from the city by the economic offences wing of the investigating agency and would be produced at the designated court on Wednesday.
A source in the agency said that Saha had in connivance with others raised around Rs 574 crore from the public through various illegal schemes.
Saha was not cooperating with the investigating agency which led to his arrest eventually, the source said.
CBI had been investigating several other ponzi firms like Saradha and Rose Valley which defrauded thousands of investors by luring them with promises of high returns and failed to do so.