-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...

-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...

-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...

-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...