 "Rose Valley chit fund scam: Mamata slams Modi govt, calls MP Tapas Pal's arrest 'vendetta politics'")
In what may set the stage for a showdown between the Centre and Trinamool Congress (TMC) in West Bengal, the Central Bureau of Investigation (CBI) arrested TMC MP Tapas Pal on Friday in connection with the Rose Valley chit fund scam, News18 reports. The report added that Pal was arrested after four hours of interrogation.
West Bengal: CBI arrests TMC MP Tapas Paul in connection with a chit fund scam case.
— ANI (@ANI) December 30, 2016
The arrest of the actor-turned-politician has been termed a witchhunt by Trinamool Congress Rajya Sabha MP Derek O’Brien. In a series of tweets, he targeted the BJP-led Centre, linking the arrest to TMC’s opposition to the note ban. Addressing a press conference, West Bengal Chief Minister Mamata Banerjee took on the Modi government.
TMC protesting agnst note ban that doesn't mean they've to be arrested by CBI;Anyone can become ambassador for any state-WB CM on Tapas Paul
— ANI (@ANI) December 30, 2016
The chief minister also charged the BJP of being involved in Rose Valley as well as another chit fund scam.
BJP is connected to Pearl group chit fund scam worth Rs 50000 Crore: WB CM Mamata Banerjee pic.twitter.com/O8A5DVSERO
— ANI (@ANI) December 30, 2016
Babul Supriyo and Rupa Ganguly also were associated with Rose Valley: WB CM
— ANI (@ANI) December 30, 2016
Modi Babu, arrest all my MPs and MLAs if you want; You don't need to summon us., we are ready; But we cannot be deterred: WB CM
— ANI (@ANI) December 30, 2016
Many film stars directors,sports persons r brand ambassadors. So what next ? Those from BIP who are brand ambassadors will also be? Right ?
— Derek O'Brien | ডেরেক ও'ব্রায়েন (@derekobrienmp) December 30, 2016
So now political attrocities against those opposed to #NoteBandi and with the movement. We will fight it out
— Derek O'Brien | ডেরেক ও'ব্রায়েন (@derekobrienmp) December 30, 2016
On Tuesday, CBI had issued a summon to Tapas Pal in connection to the chit fund scam. Meanwhile, another TMC leader, Sudip Bandopadhyay, was also summoned by the investigative agency, after failing to appear before the CBI for interrogation last week. In March 2016 , the Enforcement Directorate charged the Chairman of the Rose Valley group of companies Gautam Kundu — who was arrested in 2015 —and others in the scam. The Rose Valley group had allegedly floated a total of 27 companies for running the alleged chit fund operations out of which only half-a-dozen were active. It is alleged that the firm had floated the scheme by promising inflated returns on investments between eight and 27 percent to gullible investors in various states. The company had allegedly promised astronomical returns to depositors on land properties and assets and bookings done in the real estate sector. It is alleged that the company had made “cross investments” in its various sister firms to suppress its liabilities towards investors. SEBI had probed the company before ED and CBI registered cases against the group. The ED has pegged the total volume of the alleged irregularities at Rs 15,000 crore. With inputs from PTI
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