NEW DELHI: The Central Bureau of Investigation (CBI) has taken over the investigation into 20 cases pertaining to a chit fund scam involving funds worth Rs 25,000 crore in Jharkhand on the directions of the state high court. The agency has re-registered 20 FIRs pertaining to 193 accused (including individuals and companies), being investigated by Jharkhand police till now.Sources say that the cases don't belong to one particular group but involve many small companies. "It is submitted by the additional advocate general that a detailed counter affidavit has been filed on behalf of respondent, who has brought on record several facts including the amount involved in one company being approximately of Rs 1,600 crore and total figure may even cross Rs 25,000 crore," the order of the high court had said.The court was submitted a list of 27 chit fund companies operating in the state which were under the scanner of the state police. "Over and above the aforesaid offences, similarly situated other FIRs, registered at various other police stations about chit fund companies are also handed over to the CBI for further investigation," it had said.The CBI has earlier probed major chit fund scams involving large sums of money belonging to gullible investors cheated by many private companies in West Bengal, Odisha and Assam, known as the Saradha chit fund scam and the Rose Valley chit fund scam. Several Trinamool Congress politicians, bureaucrats, cops, private persons and agents have been arrested and chargesheeted by CBI and ED in chit fund probes in the last three years.

Source: Times of India September 14, 2017 22:52 UTC