The CBI has arrested a director of a Kolkata-based private company in an on-going investigation of a case related to chit fund scam.
The agency arrested named accused in the case Sanjoy Kumar Singh, Director of Tulips Infonet (India) Pvt Ltd, officials said.
It was alleged that the accused came into close contact with Soumyarup Bhowmik, then Chairman of another Ponzi company Burdwan Sunmarg Welfare Organisation in 2011.
It was further alleged that Singh in conspiracy with Bhowmik had illegally transferred Rs 4.19 crore from the Trust account and misappropriated the same.