At least 850 ponzi scheme operators, including 224 Saradha group companies, raised deposits from West Bengal, according to Justice Shyamal Sen Commission.
The Commission, which was set up by the West Bengal government to enquire into the Saradha scam and “such other similar” companies operating in the State, has received nearly 17 lakh complaints from investors in ponzi schemes.
12 lakh investors dupedOf the total, 12 lakh investors were duped by the Saradha Group and the rest deposited money in 627 lesser known entities.
According to Justice Shyamal Sen, Chairman of the Commission, 29 of these 627 companies could be identified. Notices have been issued to the heads – Chairman, Managing Director or CEO – of 17 such companies that have either failed to repay investor funds or closed down operations.
According to Justice Sen, the Commission has received 12 lakh complaints against the Saradha Group of which claims of 10 lakh could be verified.
The commission refunded ₹167 crore to 4 lakh investors whose claim amount (principal) did not exceed ₹10,000.
Another 2,37,000 depositors, each of whose claims are between ₹10,001 and ₹20,000, and aggregating ₹130 core, will be compensated “soon”.
Although the Saradha Group went bust in April 2013; the Commission is yet to determine the exact amount that it had mobilised through its deposit-taking schemes.
Estimates suggest that the amount may exceed ₹2,000 crore.
Meanwhile, a city court on Friday granted bail to Saradha Group Chairman Sudipta Sen’s wife; while his son was remanded in judicial custody till April 30. The two were arrested by the ED a few days back.
Sudipta Sen, however, has been in jail since April last year.