SFIO probe
With regards to the multi agency enquiry in the Kolkotta based Saradha scam, an official investigation suggests that a minimum of 279 companies were floated to channelize the money of innocent investors. A majority of these companies were labelled ‘inoperational’, their sole purpose being multi-routing funds to hide the money trial. The 2,500 crores in [...] Continue Reading »
Completing its probe into ‘chit fund scam‘ of 14 Saradha group firms, SFIO on Monday said these companies have been found to be running ‘Ponzi schemes’ and would face prosecution for violation of several laws. The investigation concluded that the group was using collections from new investors to make payments to the previously enrolled members, [...] Continue Reading »
