“Investors were also given the option of encashing their investment after the specified period along with very high returns,” the report said.
A total of 560 complaints have so far been filed with West Bengal police by duped investors, the report stated.
Describing the working of the scam, which broke early this year, the classified report stated that the “investigation so far carried out revealed that Sen had floated various companies, through numerous branch offices in West Bengal as also in Odisha, Assam, Jharkhand and other states to mobilise deposits from the public”.
The money thus collected was deposited either through cheques in the bank account of the company concerned or by way of cash deposits in accounts with banks located at different places, including at Balasore of Odisha.
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