In the wake of an alleged fraud involving thousands of crores by Kolkata-based Saradha group, the Centre today ordered a SFIO probe into the suspected misuse of public money by various chit fund companies.
A Kolkata sub-divisional magistrate's court today placed Ponzi king Sudipto Sen and two other accused in 14-day police custody for their role in swindling public money.
On the back foot over the ponzi scheme scam in West Bengal, Trinamool Congress on Thursday demanded finance minister P Chidambaram’s clarifications on the references made by the main scam accused Sudipto Sen in his “letter” to CBI, Saubhadra Chatterji reports.
The meltdown of Sudipta Sen’s Saradha Group has not only hit the rural poor in Bengal, it has also shaken the Trinamool Congress – the invincible pyramid with Mamata Banerjee at the top. Ravik Bhattacharya
reports. Sudipta's letter names Chidambaram's wife Nalini
The first was when the Left government had taken over their land at cheap rates. And now, whatever little money the dispossessed farmers of Singur received have been siphoned away by ponzi schemes, mostly with the encouragement of local TMC men Snigdhendu Bhattacharya reports.
Saradha Group chairman Sudipta Sen's flight to escape justice might well have succeeded if his need to monitor the day-to-day developments in Bengal on TV had not proved to be his Achilles' heel.
Compounding the misery of West Bengal's Trinamool Congress government, employees of a news channel run by the Saradha Group have lodged an FIR against the party MP Kunal Ghosh.
The probe into the Saradha money scam is set to pick up pace with both Calcutta High Court and the Centre stepping into the scene.
At a time when the Saradha meltdown has left scores of investors and depositors fretting over the fate of their savings parked at the rogue concern and other sham firms, many similar units with offices in West Midnapore continue to fleece gullible locals with lucrative offers and the promise of lands among other inducements.
The Reserve Bank of India (RBI) is probing the role of 13 cooperative banks in West Bengal where the tainted Saradha Group managed to park funds for conducting illegal transactions.
The most prominent member of the State Level Bankers’ Committee (SLBC), the United Bank of India (UBI), had earlier warned the West Bengal government of the inevitable financial fraud that was waiting to happen, much before the Saradha scam broke. However, the government chose not to pay any heed to the advice and now the bank is not willing to give any further suggestions on the issue.
Trinamool Congress MP Kunal Ghosh, against whom Saradha Group chairman Sudipta Sen has made allegations in a letter to CBI, on Friday offered to resign from the Rajya Sabha if charges against him in the chit fund scam were proved.
A second FIR has been filed against TMC MP Kunal Ghosh by employees of a closed Bengali daily owned by the Saradha Group for non-payment of salaries and Ghosh offered to resign from the Rajya Sabha probe shows his complicity in the ponzi scheme scam.
Sudipta Sen, Saradha group chairman accused of duping lakhs of investors, is cooperating with investigators, his lawyer claimed today.
West Bengal chief minister and Trinamool chief Mamata Banerjee has decided to stand by party MPs Kunal Ghosh and Srinjoy Basu despite the clamour for action against them for their alleged involvement in the Saradha scam.