Majumdar, who had worked as Director General (Armed Police) in West Bengal, was allegedly associated with Saradha Group, which has been accused of duping thousands of investors with crore of rupees, official sources said.
He was arrested by the CBI today. Majumdar, who has been denying allegations against him, will be produced before a designated court, they said.
CBI has registered four FIRs against Saradha Group in the chit fund scam.
The Supreme Court had handed over the Saradha chit fund scam probe to CBI and asked the state governments to provide all logistical help to the agency's team investigating the matter.
CBI has formed a Special Investigating Team (SIT) headed by Joint Director Rajiv Singh also probe the role of some officials of Securities Exchange Board of India (SEBI) and RBI, the sources said.

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