Manoranjan Roy may look like the mastermind but the real brains of the organisation was his close confidante - Raghu Shetty, another accused arrested with Roy.
Did Manoranjan Roy, the accused in the Rs56 crore fraud, enjoy support from political parties and if so, which ones?
These are some of the questions the SOG officials are trying to find an answer to. Interestingly, highly-placed sources in the department said that Roy has confessed to his closeness to stalwart politicians in West Bengal. “He has claimed closeness to politicians. However, whether they knew about his fraudulent practice or were involved in this has not come to light as yet. If any involvement comes to light an appropriate action would be taken,” officials said.
But did Manoranjan Roy cook up the entire scheme on his own? Manoranjan Roy may look like the mastermind but the real brains of the organisation was his close confidante - Raghu Shetty, another accused arrested with Roy.
Highly-placed sources said that Shetty was actually the mastermind behind the fraudulent schemes. “Shetty used to work on a managerial level post for a renowned bank prior to 2013. During this time, he got a letter of credit issued by copying the signature of a senior official for his own benefit. This resulted in a scam of crores. CBI investigated the issue and filed a chargesheet against Shetty,” officials said. Interestingly, the investigative teams even questioned Roy in the matter but in absence of any evidence against him, no action could be taken.
However, from 2013 onwards, when Shetty lost his job, he started working for Roy and handled the accounts department. “It was he who thought of the entire schemes right down to the minute details. Right from where the money would come from and where it will go. Even the new and attractive schemes were being meticulously planned by Shetty,” sources said.
And what of Rs 56 crore which investors deposited with the company and never got back? Interestingly, sources say that the man has claimed he would return the money. But is it the entire amount under the fraud. The SOG officials think otherwise. “So far we have looked into the account of just five branches from which the mammoth amount has come to light. There are six branches still left and the accounts of these would be investigated. We suspect the amount could swell to over hundred crores in Rajasthan,” officials said. And what about the remaining amount Rs 1500 crore? “The SOG will write to various state police in which the companies have operated to take action in the matter. Most branches were found in Uttar Pradesh while other areas where the branches were opened are Chattisgarh, Bihar etc,” officials said.
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