Kolkata: After the CBI, ED, now income tax department raids a financial institution. Income tax department raided two offices of MPS group in Kolkata on Wednesday. Earlier, the CBI had arrested four persons, including MPS owner Pramathanath Manna. The rest are: Madhusudan Chaudhary, Prabir Chandra and Shantanu Roy Chowdhury.
According to sources, on Wednesday, some of the Income Tax department raided the two financial offices of the MPS. These are: Jhargram in West Midnapore and Lake town of Bidhannagar. The Enforcement Directorate (ED) has started investigations against MPS on the order of the Calcutta High Court.
The Enforcement Directorate (ED)’s first charge sheet against the M P S group’s ponzi scheme has placed the amount mobilized illegally by the group at Rs 26 billion. The amount is greater than that raised by the high-profile Saradha group which was Rs 24.6 billion.
The M P S group is one of the bigger ponzi scheme outfits in Bengal that are being probed by both the Central Bureau of Investigation and the ED, following an order of the Supreme Court (SC) in May 2014. Apart from Saradha and M P S , other big groups being investigated in the state include Rose Valley and I Core.