Fraudulent investment schemes: IMG to meet on May 23

Last Updated: Sunday, May 19, 2013, 14:34

The IMG, headed by Department of Financial Services' Additional Secretary, will meet on May 23, a Finance Ministry official said.

Hit by chit fund scam Mamata faces biggest challenge in 2 yrs

Last Updated: Sunday, May 19, 2013, 11:39

With the Trinamool Congress government stepping into the third year of its rule, it is facing its biggest challenge in the multi-crore chit fund scam which has hit lakhs of people across the state.

Chit fund scam: Sudipta Sen sent to judicial custody

Last Updated: Saturday, May 18, 2013, 17:51

Sudipta Sen, the chairman of Saradha Group which allegedly defrauded thousands of small investors, was on Saturday sent to judicial custody by a Bidhanangar court as the police did not seek his further remand.

Chit fund scam: Odisha Police arrests 2 Saradha group employees

Last Updated: Friday, May 17, 2013, 00:24

Economic Offence Wing (EOW) of the Crime Branch (CB), arrested two employees of Saradha Group on Thursday.

Sudipta`s affidavit proves his `good` ties with WB govt: BJP

Last Updated: Thursday, May 16, 2013, 19:40

Sudipta Sen`s affidavit opposing a CBI inquiry in the chit fund scam proves his `good` relations with West Bengal govt, state BJP president alleged.

Chit fund: Sudipta Sen denies connection with CM

Last Updated: Wednesday, May 15, 2013, 21:45

Saradha group chairman Sudipta Sen, who has been accused of cheating lakhs of investors of their money running into thousands of crores, on Wednesday opposed a CBI probe into the complaints.

Court allows ED probe into Saradha Group deals

Last Updated: Tuesday, May 14, 2013, 18:33

The bench also directed the Central Bureau of Investigation (CBI) - a party to the petition - to submit an affidavit regarding its investigation into matter in other states.

Chit fund scam: Court allows ED probe into Saradha Group deals

Last Updated: Tuesday, May 14, 2013, 18:06

Opening a new avenue in the raging Saradha Group chit fund scam probe, the Calcutta High Court Tuesday allowed the Enforcement Directorate (ED) to investigate the case.

Chit fund scam: Duped farm labourer attempts suicide

Last Updated: Monday, May 13, 2013, 15:39

A daily wage farm labourer on Monday allegedly attempted to commit suicide after losing money in Saradha chitfund scam.

Saradha scam plays out in Bengali film `Kagozer Nouko`

Last Updated: Monday, May 13, 2013, 10:24

Cashing in on the chit fund controversy which has caught Bengal by a storm, a young director has made a film featuring a chit fund owner like that of the infamous Saradha Group which has defaulted on repayment.

IMG panel to discuss ways for curbing ponzy schemes

Last Updated: Sunday, May 12, 2013, 18:01

The meeting of the group has been scheduled against the backdrop Kolkata-based Saradha Group allegedly cheating investors through fraudulent money pooling scheme.

Lack of banking facilities drove people towards ponzi schemes

Last Updated: Sunday, May 12, 2013, 11:25

An economist, Ajitava Rai Chaudhuri, says it is the easy availability of need-based loans and high returns on short-term investments that propel people to invest in ponzi schemes.