New Delhi: The Central Bureau of Investigation said late on Saturday night that it had arrested Sandhir Agrawal, the son of businessman Sajjan Agrawal in the multi-crore Saradha chit-fund scam.

The father and son promote the Orion Group. Saradha Group chief Sudipta Sen had alleged in his confession letter that the father-son duo had taken 40 crore from him to help keep regulatory agencies, including the Securities and Exchange Board of India, at bay.

The CBI on Wednesday had arrested Debabrata Sarkar, an official of the East Bengal Football Club, in connection with the scam. Sarkar was accused of misappropriation of funds of Saradha group.

The now-defunct Saradha Group was one of eastern India’s biggest deposit-taking firms, which went bust in April last year after it defaulted on repayments to depositors. The firm allegedly caused an estimated loss of more than 2,000 crore to 1.7 million small investors. These estimates were given by a commission set up under the chairmanship of former Allahabad high court chief justice Shyamal Kumar Sen.

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