Breaking news from the financial crime front: CBI agents have captured Tanmay Mirda, the elusive director behind a massive chit fund swindle worth over Rs 2 crore. The raid occurred January 29 in a quiet corner of West Bengal’s Nadia district, ending his run from justice.
This action follows Supreme Court orders from June 2020 to scrutinize rampant chit fund activities in eastern India. At Express Cultivation Limited, Mirda enticed depositors with dreams of quick riches, pocketing Rs 2.1 crore before vanishing.
The fallout was devastating—investors, promised steady returns, watched their savings evaporate without trace. Probes exposed a classic ponzi blueprint: fresh inflows masking old defaults until the house of cards collapsed.
A comprehensive chargesheet landed in court by February 2022, but Mirda’s defiance led to an arrest warrant. Leveraging tech intel, local tips, and persistent fieldwork, CBI encircled and seized him seamlessly.
Upcoming remand hearings promise revelations on the scam’s scope and co-conspirators. With chit funds historically ruining lives across states, this bust highlights CBI’s escalating offensive. Authorities pledge exhaustive follow-ups to seize assets and deliver justice, restoring faith in regulated investments.