26.4.13

Swindler's List


At least 60 fraudulent firms like Saradha Group, which is embroiled in the West Bengal chit fund scandal, are actively operating in the state and may have amassed around Rs10 lakh crore from unsuspecting depositors, say people in the know.
Further, there are ‘countless’ small and unregistered shady money laundering firms operating in the state, especially in North and South 24 Parganas, Malda and Birbhum districts, according to experts.
Shamik Dasgupta, former general manager of the Calcutta Stock Exchange, said that most of the fraudulent companies like Saradha are violating provisions of the Companies act to misuse public money. “These companies are not chit funds. They are formed under Companies Act, 1956, and are registered with the ministry of corporate affairs,” said Dasgupta. He said over 60 firms like Saradha were actively operating in Bengal.
On the total amount of depositors’ money which they might have siphoned off, he said, “We came to know that Saradha Group alone could have mopped up over Rs17,000 crore. So, the total amount amassed by such companies could be about Rs.10 lakh crore.”

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