Stock guru scam: Raid at I-T official’s house, office

The Central Bureau of Investigation (CBI) on Monday raided the office and residence of a senior income tax official in connection with allegations that search operations conducted by him in probing the R493-crore Stock Guru scam were not genuine.

The Central Bureau of Investigation (CBI) on Monday raided the office and residence of a senior income tax official in connection with allegations that search operations conducted by him in probing the Rs. 493-crore Stock Guru scam were not genuine.

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The CBI raided the residence of deputy director at income tax department, Yogendra Mittal, who allegedly led the raids on Stock Guru. According to sources, Mittal, an IRS officer of 2006 batch, has allegedly received crores of rupees for 'managing' the search operations on the company. According to sources, the bribe could be anything between Rs. 15 crore and Rs. 50 crore.

The action came after a case was registered against Mittal that the searches led by him in connection with the Stock Guru scam were not carried out with honesty and were aimed at extracting illegal gratification, officials said.

Stock Guru has allegedly duped two lakh investors of Rs. 493 crore.