The Central Bureau of Investigation (CBI) has arrested Sanjay Gupta, the Managing Director of OPG Securities, in connection with the NSE Co-location scam. The agency has already arrested Chitra Ramkrishna, former CEO and Managing Director of NSE and Anand Subramanian, former Group Operating Officer of the market.
The scam is related to brokers who allegedly abused the facility to make gains by getting early access to the stock market. Gupta allegedly had huge undisclosed foreign transactions, hawala deals, and cash payments for multi-crore property purchases.
The agency was also probing unidentified officials of the Securities and Exchange Board of India (SEBI) and the National Stock Exchange (NSE), Mumbai and other unknown persons.
I-T Dept has also uncovered that Sanjay Gupta operated an international arbitrage and trading business via an entity called Richr Business Services. Sanjay Gupta had earlier denied the allegations as false, baseless, and devoid of facts.
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