Wb Chit Fund Scam

Topics: Chit fund, West Bengal, All India Trinamool Congress Pages: 3 (828 words) Published: April 25, 2013
What WB's chit fund scam is all about
The depositors, mostly poor people in villages and small towns, had put their hard-earned money with the company's chit funds lured by the promise of high interest rates. KOLKATA: The Saradha Group chit fund scam that left scores bereft of their savings, has Mamata Banerjee's Trinamool Congress in a tizzy with the chief minister putting the onus on the Left and some even trying to cover up the mess.

Sudipto Sen, the promoter of the chit fund funded by the Saradha Group, was arrested from Sonmarg in Jammu and Kashmir with two of his associates, police said.

"Based on information provided by the West Bengal Police, three people were detained by us from the Sonamarg tourist resort in Ganderbal district today (Tuesday)," a senior Jammu and Kashmir Police officer told IANS.

Today, things got messier with reports of a Saradha Group agent trying to commit suicide as she was under pressure to pay investors back.

An IBN-Live report says that a agent of the firm, Tapasi Singha, tried to kill herself by consuming sleeping pills as she had a liability of Rs 5,30,000.

There also have been reports of suicide bid by investors who lost all their money after the firm had gone bust.

A fifty-year-old woman who had deposited money with the firm, set herself ablaze after she heard that the firm was fraudulent, while a man poisoned himself after the news.

The Saradha Group, which collected hundreds of crores of rupees from people in villages and small towns by promising huge returns, has shut shop after a series of allegations that it was defaulting on payment.

Lakhs of depositors vented their anger across the state against the chit-fund fund company Saradha Group, which is virtually on the verge of collapse. There were incidents of clashes between the agents and the depositors who demanded their money back.

The depositors, mostly poor people in villages and small towns, had put their hard-earned money with the...
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