MLM / Chain Money
Saradha scam: ED attaches properties of ex-minister, others
The Enforcement Directorate on Monday attached properties worth several crores of rupees belonging to people accused in the Saradha scam, including former union minister Matang Sinh.
 
According to an ED source, properties both moveable and immoveable, spread across Assam, West Bengal and Mumbai were seized under the Prevention of Money Laundering Act.
 
"The seized properties belong to Matang Sinh, Manoranjana Sinh and painter Shuvaprasanna," said the source.
 
While both Sinh and his estranged wife Manoranjana were arrested by the CBI for their alleged complicity in the multi-crore-rupee scam, Shuvaprasanna has been grilled by probe agencies.
 
Probing the money trail in the scam, the ED has so far attached assets of the Saradha Group worth several hundred crore rupees.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Subramani P K

2 years ago

It is good news that the properties of the people involved in Sarada scams is attached by ED. Similarly why not attach the properties of all central ministers & others who are involved in similar scams like coal gate, 2G spectrum, Asian games and so on. It is high time the laws are made more stringent to attach & confiscate all unaccounted properties without any reservation.

ED grills Rose Valley official in chit fund scam
The Enforcement Directorate (ED), which is probing the chit fund scam in West Bengal, on Thursday grilled Seema Singh, a top official of the Rose Valley group which is alleged to have illegally raised public money.
 
Seema Singh, the head of the company's human resource department appeared before the ED office here in the morning.
 
"She is being grilled about the financial transactions made by the company," said an ED source.
 
Seema Singh is said to be helming the company in the absence of Chairman Gautam Kundu who was arrested by the ED in March under the Prevention of Money Laundering Act.
 
Company Managing Director Shibomoy Datta is also behind bars after being nabbed by the Central Bureau of Investigation (CBI) which too is probing the scam.
 
The corporate affairs ministry in 2013 had named Rose Valley as one of the 73 companies involved in ponzi schemes in Bengal.
 
Having cast its net across the states of Bengal Tripura, Assam, Odisha, Jharkhand and Maharashtra among others, the company is alleged to have raised close to Rs.15,000 crore.
 
Found guilty of running "collective investment scheme" without necessary approvals, the SEBI in June 2014 had ordered the company to refund the money to the investors and barred it barred from accessing the securities market.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Koteshwarachary Naroju

12 months ago

Hai

Saradha scam: Accused Bengal minister steps down
On a day the CBI cited his continuance in the state cabinet as a proof of his immense influence, West Bengal's transport minister and Saradha scam accused Madan Mitra stepped down from the post on Wednesday.
 
According to sources, Mitra's resignation was accepted by Chief Minister Mamata Banerjee who forwarded it to Governor K.N. Tripathi.
 
The move came hours after the CBI, seeking cancelation of his bail, pointed to a division bench of the Calcutta High Court about Mitra continuing as a state minister despite being indicted and jailed in the multi-crore-rupee scam.
 
Mitra was granted bail by a lower court on October 31 nearly 11 months after his arrest on December 12 last year.
 
The CBI subsequently moved the high court's division bench of Justice Nishita Mhatre and Justice Tapas Mukherjee seeking cancelation of the bail.
 
Following the CBI's move against the bail, the high court subsequently ordered Mitra be kept under house confinement till the disposal of the matter.
 
To buttress its claims of Mitra being an influential person who might hinder investigation and tamper with evidence if not kept in custody, the CBI counsel on Wednesday argued before the court how Mitra has remained in the cabinet despite being in custody for almost a year.
 
The counsel also drew the court's attention towards Mitra's stay at the government-run SSKM Hospital where he has spent a large part of his incarceration period.
 
Contending that the bail granted by the lower court was illegally passed, the counsel pleaded to the bench to cancel his bail.
 
Refuting charges that Mitra may tamper with the evidence, his counsel asserted that the minister had tendered his resignation even before his arrest but was not accepted.
 
The case will again come up for hearing on Thursday.
 
The opposition called Mitra's resignation a "desperate attempt" to prevent cancellation of his bail by the court.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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