Tapas Pals bail plea rejected, sent to 3-day CBI custody

December 31, 2016 19:29

The special Chief Judicial Magistrate Central Bureau of Investigation Court on Saturday rejected the bail plea of Trinamool Congress MP Tapas Pal, sending him to three days of CBI remand in connection with Rose Valley Group chit fund scam.

The court's decision came a day after Pal was arrested by the CBI for his alleged involvement in the scam, in which thousands of small investors were allegedly cheated.Paul was questioned for hours by the CBI before his arrest. His house was also raided.

He was a director in two companies of the Rose Valley, a leisure and entertainment group, that has been accused of illegally accumulating Rs.17,000 crores in small savings through a Ponzi scheme.

The group has been under investigation for almost two years.

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