The Central Bureau of Investigation (CBI)  arrested Trinamool Congress MP and party’s leader in the Lok Sabha Sudip Bandyopadhyay in connection with the ongoing investigation in the chit fund scam case.
Earlier  the CBI arrested party MP and film actor Tapas Paul, alleging that he had benefited from the Rose Valley Group Scam.

About Rose Valley Group Scam
According to reports, Rose Valley chit fund scam amounts to almost Rs 60,000 crore. The scam is believed to be the biggest ponzi fraud in India and the scam itself is at least three times bigger than Saradha scam.

Making of a scam
–  Rose Valley, as per the ED estimates reportedly collected money from depositors across India, especially West Bengal, Assam and Bihar
– In March 2015, the ED arrested group’s chairman Gautam Kundu. 
– Huge amounts were allegedly siphoned off and transferred to other accounts
– ED is certain a major portion of the money was used to bribe politicians for smooth running of the ponzi chain.
– Rose Valley hotels & entertainment reportedly owns nearly 23 properties across India
– In addition, all the 2,600 bank accounts of the company, which together hold cash balances of Rs 800-1,000 crore, have been frozen by the government
– There are as many as 30 companies under the Rose Valley banner on paper, which includes companies such as Rose Valley Airlines, Rose Valley Microfinance, Rose Valley Fashion, Rose Valley Consultancy, Rose Valley Beverages, Rose Valley Infotech and Rose Valley Housing Finance, says a news report

What is Ponzi Scheme?
A Ponzi scheme also a Ponzi game is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.