- Enforcement Directorate (ED) investigation on saradha chit fund of Rs.10,000 scam revealed that the agents were paid Rs.500 to attract investors in different states
- Agents were spread across in West Bengal, Odisha, Assam and other places to reach out small time investors
- Promising of double the returns and more the group had collected Rs.2400 crore by postdated cheques, Rs.1000 by cash and remainig by cheques
- The ED further tracked down 300 banks operated by the group and most of the money was withdrawn and suspect some money could be routed to Dubai
- Four main companies were operated under the group and had floated 225private companies and 30limited liability partnerships
- Hurdle faced by ED further on the probe take the FIR copies against the prime accused Saradha Group head Sudipta Sen, currently in jail he had filed a case against an ED official of having forced him to sign back-dated provisional attachment orders
- However the ED is moving further by taking this case a level higher for further action
- Read at: http://www.thehindu.com/todays-paper/tp-national/saradha-group-spent-rs-500-crore-to-lure-smalltime-investors-ed/article6132019.ece
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