Saradha scam: SFIO to submit final probe report in June
April 20, 2014  12:03
The Serious Fraud Investigation Office is expected to submit its final report in June on the chit funds scam perpetrated by West Bengal-based Saradha and other firms.

The investigation was ordered by the corporate affairs ministry in April last year following huge public outcry over the scam that duped hundreds of gullible investors by running fraudulent money-pooling schemes in the garb of chit funds.

Sources said the probe agency is now expected to submit its final report to the Ministry in June. At the time of ordering the probe, SFIO was expected to submit its final report in December 2013.

The agency had given its interim report to the Ministry in September last year. The probe agency has gathered most of the information in the case, including gleaning of details from computer servers, and would require some more time to finalise the report, sources said.
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