-The Hindu Suspended Trinamool Congress MP Kunal Ghosh was arrested on Saturday after the investigating authorities found prima facie evidence against him in connection with the Saradha Ponzi scam. Briefing reporters, Arnab Ghosh, Deputy Commissioner, Detective Department of the Bidhannagar City Police, said: "Prima facie evidence indicates that Kunal Ghosh played an equal part in the conspiracy." The Saradha group, which allegedly duped people of over Rs. 2,300 crore through its various Ponzi...

-PTI NEW DELHI: The alleged chit fund scam in West Bengal involving the Saradha Group revolves around a total sum of Rs 2,460 crore with 80 per cent of the depositors' monies still remaining unpaid, a latest investigation report has revealed. The report also states that the arrested Saradha chairman Sudipta Sen was in "total control" of all deposits made by his group companies, which are under the scanner for having perpetrated...

-PTI Kolkata: The Trinamul Congress swept the three-tier panchayat polls in West Bengal capturing 13 out of 17 Zilla Parishads, while the Congress put up a poor show with just one in Murshidabad. TMC's clean sweep in the zilla parishads in 11 of 12 south Bengal districts and two out of five north Bengal districts, demonstrated that the two-and-a-half-years of incumbency and controversies, including the Saradha chit fund scam, by and large,...

-The Hindustan Times Kolkata: Probing the infamous Saradha Scam for Bengal's investigating agencies is like searching for the man who stole overcoats in Nikolai Gogol's The Overcoat. It is a mammoth task made more difficult due to the involvement of political bigwigs. The enormity of the challenge is manifold. First, the web of financial irregularities amounting to thousands of crores of rupees. Second, the involvement of politicians in the scam and third,...

-The Telegraph The sudden arrest of Amway India's top brass on Monday has focused the spotlight on the crumbling fault lines and the grey areas in the demarcation between some of the world's best-known direct selling companies and the dodgy Ponzi schemes that promise huge returns to gullible investors and have lately grabbed all the sensational headlines in Bengal. William S. Pinckney, managing director of Amway India, and two directors of the...