-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...
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Ponzi scam: Over 150 petitions found on rail track
-PTI Burdwan (WB): About 150 sheets, allegedly copies of petitions filed by depositors related to the Saradha Chit Fund Scam, were found on the side of rail tracks between Kalna and Guptipara stations of Eastern Railway's Howrah-Burdwan section on Sunday. GRP sources said about 150 papers, claimed to be petitions of depositors from Murshidabad and Jharkhand, were spotted ying on the sides of the rail track at Purbo Satgachia station by local...
More »Depositors from outside add to complaint pile
-The Indian Express Kolkata: AMONG the 6.25 lakh complaints received by Justice Sen Commission, which has been set up by the West Bengal government to inquire into the Saradha Group and other Chit Fund Scams and also to look into ways to return money to investors, many have been submitted by people from other states where the firms were operating. "Since the West Bengal government is the only state government that has...
More »From Bofors to 2G, the same fate-Arun Kumar
-The Hindu The parliamentary committees on the howitzer scam and the stock market scandal protected the powerful and failed to fix accountability. The same is true in the spectrum case The current political situation brings back memories of 1989. The Prime Minister then was under a cloud in the Bofors scam. Many of his close associates like Lalit Suri and Ajitabh Bachchan were accused of wrong-doing. Today, Prime Minister Manmohan Singh and...
More »Setback to Mamata as court rules in favour of 3-phase polls-Shiv Sahay Singh
-The Hindu Kolkata: In a setback to the Mamata Banerjee government, the Calcutta High Court on Friday directed that panchayat polls in 17 districts be held in three phases with the government fully compensating the shortfall in security forces to the satisfaction of the State Election Commission. Justice Biswanath Somadder rejected the government's arguments on all the contentious issues in its writ petition and directed that it inform the Commission of...
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