Tuesday, September 16, 2014

Shardha scam a Rs 300 billion of poor public money is gone

Shardha scam caused a loss of Rs 300 Billion to common investors who thought the scheme will provide them financial return.
But none of this would have happened if this scheme wasn't given support by TMC ministers, including Mamta Banerjee.

Several political leaders received financial support from Saradha Group, including several Members of Parliament of Trinamool Congress, the incumbent ruling party of West Bengal.
• Member of Parliament Kunal Ghosh drew a salary of INR 1.6 million per month from Saradha Group.
• Member of Parliament Srinjoy Bose, son of Swapan Sadhan Bose, was directly involved with the media operations of Saradha Group.
• Transport Minister Madan Mitra headed the employees' union of Saradha Group, and publicly encouraged people to invest their savings with the company.
• Sudipto Sen spent nearly Rs 2 Crore to buy paintings by Mamata Banerjee, whose government later issued a notification that public libraries should buy and display newspapers of Saradha group.
• The loss making Lamdmark Cement company co-owned by textiles minister Shyamapada Mukherjee, was bought at a premium by Saradha Group.
• The group also had financial dealings with Ganesh Dey, the confidential assistant of the finance minister of the erstwhile Left Front government, who was later expelled.