The Central Bureau of Investigation is likely to seek details from authorities in Singapore on the antecedents of a Rs 180-crore fund parked there in the name of a local trust, on the suspicion it could be part of the Saradha scam’s money trail.
It is suspected that the fund comprises parts of the loans allegedly taken from banks by a West Bengal-based firm, which was taken over by the Saradha group, said an agency source. The fund is suspected to also comprise proceeds from the money paid by the group to acquire control of the firm.
The money is suspected to have been sourced from the pool of investments that the group had collected from several states, the source added.
“We are examining if the firm’s takeover and its Singapore connection were a strategy to funnel the investments outside the country for safety,” said the source.