Kolkata, Sep 4 (IANS): The Central Bureau of Investigation (CBI) was on Sunday conducting raids and search operation at the residence of Subodh Adhikari, the Trinamool MLA from West Bengal's Bijpur Assembly constituency in connection with a chit fund scam.

This comes after the arrest of Raju Sahani, Trinamool Congress leader and the chairman of Halisahar Municipality in North 24 Parganas district for being an alleged beneficiary in a chit fund scam.

Another team of the CBI simultaneously conducted raid and search operations at the residence of Subodh Adhikari's brother, Kamal Adhikari, who is the chairman of Kanchrapara Municipality also in North 24 Parganas district. Till the time, the report was filed, raid and search operations were on.

On Friday evening, the CBI sleuths arrested Raju Sahani in connection with his alleged involvement and being an alleged beneficiary of a chit funds entity, 'Sanmarg Cooperative'. Cash worth Rs 80 lakhs was also seized from his residence at New Town in the northern outskirts of Kolkata.

CBI sources said that from a number of documents seized from the residence of Sahani they came across some crucial clues related to the involvement of Subodh Adhikari and Kamal Adhikari with the affairs of Sanmarg Cooperative.