New Delhi, Aug 17 (IANS): The Central Bureau of Investigation (CBI) has arrested Dibakar Das, Chief Managing Director (CMD) of Rubi Star Marketing Pvt Ltd from Maharashtra's Palghar in an on-going investigation of a case related to Chit Fund Scam.

The official said that Das was produced before a court in Kolkata and has been remanded to five days police custody.

The CBI had registered a case on June 8, 2017 against Das, CMD of Rubi Star Marketing Pvt Ltd based at North 24 Parganas in West Bengal and others including two Directors, Branch Manager etc. The CBI registered the case on the orders of the Supreme Court.

In the FIR it has was alleged that Das had entered into conspiracy with an ulterior motive of siphoning off the illegally collected money amounting to Rs 38 crore from the investors under various fraudulent schemes on assurance of paying high returns on maturity and later closed its operation and fled away by cheating the said investors for their due amount, and misappropriated the money invested with the accused company.

It was further alleged that an amount of Rs 5.65 crore was also diverted from company's account to the bank account of Das, which was misappropriated by the accused.