West Bengal: Enforcement Directorate Arrests Kaustav Roy in Chit Fund Scam Case
Image credit: Orissa Post
Kolkata: The Enforcement Directorate (ED) arrested on Monday Kaustav Roy, known to be a close confidante of Chief Minister Mamata Banerjee, a prominent businessman, and media group owner. His arrest comes as part of an investigation into the state's chit fund scam. Known for his controversial past, Roy's alleged involvement in the scam has raised eyebrows and intensified scrutiny of his connections with the ruling Trinamool Congress (TMC).
Roy was under interrogation for the past couple of days and had allegedly started showing non-cooperation with the ED. He reportedly failed to share the details of the transactions with the chit fund group Pincon. It can be recalled that Pincon had collected hundreds of crores from the market through chit fund operations.
It is alleged that the media owner, flaunting his close association with the chief minister, had managed to secure funds from the chit fund group amounting to over Rs 4 crore. However, when the chit fund owner demanded repayment, he is believed to have resorted to threatening him with severe consequences, even involving potential arrest by the state police, leveraging his proximity to the chief minister.
Roy, who is the owner of Kolkata TV and chairman of RP Group, was facing an arrest by Delhi Police on charges pertaining to economic irregularities and forgery. He evaded the arrest in Kolkata, prompting the Delhi High Court to intervene and direct the Kolkata police to apprehend him. Subsequently, he spent weeks in jail for his alleged involvement in the economic fraud case before he was granted bail.
Roy’s rise to prominence followed TMC’s ascent to power in the state in 2011. While he is known to be connected to the CM, his media outlet has been accused of being TMC’s unofficial mouthpiece.
Roy has been also accused of attempting to “influence” the families of victims in cases such as Anis Khan’s murder and the Egra bomb blast.
On the other hand, many are perceiving Roy’s arrest as a result of vendetta politics pursued through the ED.
After the business tycoon was arrested, he decided to represent his cause personally and hesitated to seek legal representation. The ED argued in court that the individual holds significant influence and that there is a risk of evidence tampering if he is not taken into custody. Roy has been sent to a 10-day Enforcement Directorate custody.
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