The CBI's anti-corruption unit today raided the property of city based Pailan Group, including the home of its CMD Apurba Saha, for alleged collecting money several hundreds crores of rupees from the markets illegally, official sources said. Official sources said the Pailan Group had raised money through its agents, who had promised high guaranteed returns on various investment schemes, but finally deceived the customers.
Sources said despite the scandal over Saradha, the Rose Valley and other ponzy firms, the Pailan Group of Kolkata continued to run collective investment schemes (CIS) through the network of its agents who promised high guaranteed returns. Sources at the CGO Complex at Salt Lake have knowledge regarding CBI raids of the day said nearly 25/30 officials of the central investigating agency have been searching the properties of Pailan Group, including the home of CMD Apurba Saha in his south Kolkata location. Besides Saha's home, four other places including at Sonarpur, Bankura and some other locations, sources said. The financial instruments had offered by local the agent include debentures and various monthly income schemes (MIS).
The Pailan Group has also interests into education, food processing, and finance, sports, real estate, jewellery, healthcare, media and entertainment business. The raids were on when the reports came in. (UNI)