CBI to probe Saradha, Odisha ponzi schemes scams: Supreme Court

In a setback to West Bengal government, the Supreme Court (SC) has handed over investigation into Saradha chit fund scam to the Central Bureau of Investigation (CBI).

The court on Friday also asked the agency to investigate ponzi scheme scams in Odisha.

The apex court bench headed by Justice T.S. Thakur said the CBI will also look into any other ponzi scheme involved in chit fund scam in West Bengal, besides Saradha.

Handing over the investigation to the CBI, the court said that the investigation by the West Bengal Police did not make any headway in inter-state ramification of the scam.

The court also asked CBI to look into the money laundering dimension in the chit fund scam.

SC said the state police has not been able to make any headway in the conspiracy angle, money trail and the seizure of the properties related to the scam.

The West Bengal government, all through the hearing of the matter, had strongly resisted the plea for handing over the investigation to the CBI.