ED arrests Kolkata businessman in ponzi case

The Enforcement Directorate (ED) on Tuesday arrested a city-based businessman for his alleged involvement in the Pincon chit fund scam, an official said.

Kaustav Roy, who was summoned by the ED on Monday for questioning at the central probe agency's city office, was arrested around 1am, he said.

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Roy's mobile phone has also been seized, the official said, adding that the businessman was also booked for his alleged involvement in bank fraud and scams related to advertisements.

“Mr Roy was arrested after he refused to cooperate with our officers last evening. We think he is trying to hide information. We have seized his mobile phone as well,” the officer told PTI.

Incidentally, the ED conducted a search operation at Roy's residence and office here last month.

Pincon owner Manoranjan Roy and his wife Mousumi were arrested earlier and sentenced to life imprisonment.

Pincon group has allegedly duped thousands of investors after illegally raising Rs 800 crore from public.