Chit fund case: CBI raids magician PC Sorcar's residence

Intensifying its investigation in the chit fund case, CBI officials conducted a raid at the residence of famous magician PC Sorcar. The action was necessitated as some financial links allegedly between Sorcar and the now-defunct Ponzi company Tower Group were unearthed.

Kolkata: Officials from the economic offences wing of the CBI on Friday carried out a search operation at the residence of noted magician P C Sorcar Junior, sources said.

The chit fund company is alleged to have transferred money to the bank account of Sorcar, who was the brand ambassador of Tower Group at one point of time, the CBI sources said.

The search operation lasted for around two hours at his Mukundapur residence, the aim of which was to get hold of documents related to the association between the renowned magician and the firm, they added.

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Sorcar could not be contacted for comment.

According to sources, Sorcar was the brand ambassador of the chit fund organisation. Today, the investigating agency carried out search operations at four places in Kolkata.

CBI officials are presently carrying out a massive search operation in connection with the chit fund scam to enquire about the details of the fraud.

With PTI inputs