CBI arrests SEBI AGM accepting Rs 25 lakh Bribe

CBI arrests SEBI AGM accepting bribe Rs 25 lakh
New Delhi, Feb 1 (PTI):

The CBI has arrested an Assistant General Manager of market regular SEBI for allegedly demanding and accepting a bribe of Rs 25 lakh.

Official sources said R P Singh, AGM of Security Exchange Board of India (SEBI), Kolkata was arrested by the anti-corruption wing of the CBI on Sunday evening.

It has been alleged in the complaint that the SEBI officer had asked the Director of a Kolkata-based group of companies to furnish some documents and other particulars of the business being transacted by one of its companies as a corporate agent of LIC and GIC.
"He demanded bribe of Rs 25 lakh from the complainant for not pursuing the matter.

The CBI laid a trap and the AGM was caught red-handed while accepting a bribe of Rs 25 lakh from the complainant," a CBI spokesperson said.

During subsequent searches at the residence of the officer, the CBI said Rs 28 lakh in cash and documents showing huge investments in movable and immovable property were recovered.

The accused was today produced before a Special CBI court and was remanded to judicial custody till February 12.