The Central Bureau of Investigation (CBI) is conducting searches on the premises of three officials of the Securities and Exchange Board of India (SEBI) in connection with the Saradha Ponzi scam case.
“The searches are being carried out at six locations in Mumbai,” said a CBI official.
The Saradha group headed by prime accused Sudipta Sen involved about 200 entities. Funds from small-time investors in West Bengal and neighbouring States, running into hundreds of crores, were collected on the promise of huge returns.
Based on the CBI case, the Enforcement Directorate is also probing the money laundering angle.
