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CBI arrests Delhi broker in NSE co-location scam, names Sebi officials in FIR
CBI has arrested Sanjay Gupta, MD of OPG Securities as part of the investigation into the NSE co-location scam. The agency believes Gupta had access to a Mumbai-based "cartel" which helped him influence Sebi's probe into the matter during 2015-2018
(File photo) Former NSE CEO Chitra Ramkrishna
Photo : PTI
The Central Bureau of Investigation (CBI) arrested Sanjay Gupta, a Delhi-based broker and managing director of OPG Securities in the NSE co-location scam. The investigative agency earlier registered a complaint against Gupta for alleged involvement in the case that pertains to preferential access through multiple IDs and secondary servers, CBI said on Wednesday.
CBI recently conducted searches at 10 locations including offices of Gupta’s brokerage as part of the investigation.
The development marks another high-profile arrest in the investigation process which saw former National Stock Exchange (NSE) chief executive Chitra Ramkrishna and group operating officer Anand Subramanian behind bars in March.
CBI said it managed to unearth a “cartel” which “helped Gupta in approaching officials of the capital markets regulator Securities & Exchange Board of India (Sebi)” while the latter conducted its probe into NSE algorithm scam between 2015-2018, reported Economic Times.
CBI said its searches and the probe indicated that there is a Mumbai-based syndicate that could have assisted Gupta in reaching out to Sebi officials who were conducting the investigations, the report further added.
OPG Securities, some members of Sebi, and NSE have been named by the CBI in its FIR.
CBI also said it has reasons to believe that Gupta destroyed some of the evidence deemed crucial for the investigation.
The investigative agency directed its attention to brokers after arresting Ramkrishna and Subramanian earlier.
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