12/12/2014 7:21 PM IST | Updated 15/07/2016 8:24 AM IST

CBI Arrests Bengal Transport Minister Madan Mitra In Saradha Case

Hindustan Times via Getty Images
KOLKATA, INDIA - DECEMBER 13: Madan Mitra, West Bengal Transport Minister (Trinamool Congress) being taken to the Alipore court from the CBI office, at Saltlake on December 13, 2014 in Kolkata, India. He has been arrested in connection with the multi-crore Saradha chit fund scam. Thousands of investors allegedly lost over INR 200-300 billion when Saradha chit fund group collapsed in April 2013. (Photo By Subhendu Ghosh/Hindustan Times via Getty Images)

Kolkata, Dec 12: In an embarrassment to the ruling Trinamool Congress, West Bengal transport minister Madan Mitra was today arrested by CBI in connection with the multi-crore Saradha chit fund scam.

Mitra was arrested in a case relating to Saradha Realty on charges of criminal conspiracy, cheating, misappropriation of funds as well as deriving undue financial benefits from the Saradha Group, a CBI spokesman here said.

He was taken into custody after five hours of intense questioning at the Salt Lake CGO complex housing the CBI office.

The CBI also arrested Naresh Balodia, legal advisor to Sudipto Sen and Saradha Group on charges of criminal conspiracy, cheating and diversion of funds in the same case, he said.

Balodia had drafted the letter which Sudipto Sen had sent to the CBI, he said.

The CBI had earlier arrested two TMC MPs Kunal Ghosh and Srinjay Bose in connection with the Saradha scam.