The Central Bureau of Investigation (CBI) has arrested Sanjay Gupta, the managing director of OPG Securities, in connection with the NSE Co-location scam in which brokers allegedly abused the facility to make gains by getting early access to the stock market.
Delhi-based broker OPG Securities had been named among the key beneficiaries in the National Stock Exchange (NSE) Co-location scam.
Gupta allegedly had huge undisclosed foreign transactions, hawala deals, and cash payments for multi-crore property purchases.
I-T Dept 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.
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 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.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
