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CBI sets up SIT to probe Saradha chit fund scam

LiveMint logoLiveMint 12-05-2014 Aman Malik

New Delhi: The Central Bureau of Investigation (CBI) has set up a special investigation team (SIT) to probe alleged fraud by deposit-taking firms of the Saradha Group.

Led by a joint director, the team will have officers from West Bengal, Odisha, Bihar and the North-East.

The Supreme Court on Friday ordered CBI to launch a probe into the operations of deposit-taking firms in West Bengal and Odisha, including the now-defunct Saradha Group, a year after it ran aground and defrauded depositors of at least `2,000 crore.

“SIT will soon collect all relevant documents before registering the FIR (first information report) in the matter. CBI will also look into the larger conspiracy angle,” a CBI official said, requesting anonymity.

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