Cheating millions of People:Saradha’s way

A bemused Sankar Barua Former DGP looks on towards the media after coming out of SBI Chenikuthi branch after CBI raids his account in Guwahati as he is alleged to be a beneficiary in the scam. Later on 17th Sept, 2014 the former top up of Assam shoots himself at his residence rattling all those who are against him as well as those who were with him.

Millions of small-time investors in eastern India came to realize that their hard earned money was spoiled as the supreme boss of Saradha group of companies was sent behind bars even after spending huge amount of money to appease the politicians, bureaucrats, police officers, cultural icons and media persons leaving the company.

This is a classic story of cheating hundred thousands of families belonging mostly to the below poverty line and middle class financial status, where the fraudulent company promises unbelievable high returns against their deposits in installments for a particular period. The story unfolded as the national investigative agency (Central Bureau of Investigation) started its high level probe into the million dollars Saradha scam since May 2014.Headquartered in Kolkata, the prime city of eastern India, Saradha group is suspected to have collected over 50,000 million rupees through various collective investment schemes under nearly 200 different companies from the gullible investors, who have low access to formal banking facilities across West Bengal, Assam, Tripura,Orissa, Jharkhand and Bihar provinces.

Nava Thakuria

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