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Victims of Sarada and Rose Valley grieve as refund delays

Bengal was struck by a larger ponzi scheme after the Sharada scam, the `Rose Valley’ chit fund company had duped over 1 crore people in 2013. As per Enforcement Directorate estimates Rs 17,520 crore was reportedly raised from in…




Bengal was struck by a larger ponzi scheme after the Sharada scam, the `Rose Valley’ chit fund company had duped over 1 crore people in 2013. As per Enforcement Directorate estimates Rs 17,520 crore was reportedly raised from investors across India.
35 years old Somnath Paul, a grocery, resident of Ghola, District of North Parganas, WB, who deposited the money to Rose Valley, has forfeited as off now. He does not know if is there any little chances to refund the money. Aggrieved Somnath said, “I deposited Rs 1236 per month in Rose Valley, it continues 11 months. Just 4 months before the maturity the fund has been stopped. I wanted to get back the money at any cost to run the family as we belong to a middle class family. We deposited the money here to save ourselves for the hour of need. But as the company’s function has been stopped, we are in very problem. We want to proper investigation and if he (Rajiv Kumar, CP, Kolkata) proves guilty, or by releasing him we can get the money back-it should be done.”

"As a mother it is difficult for me to run the family single-handedly. We lost all our savings and my husband in the ponzi scheme," teary eyed Neelipal Bag narrated her crisis after she lost her money in 2015 leading to her husband, Apurpa Pal Bag's suicide.

Another resident Pampa Sheel of Ghola, North 24Parganas also faced similar plight after she had been denied her hard earned money. “I had been depositing Rs 90 per month for the term of 5 years, but after 3 years I had to stop after the company shut down. We are poor people and we had to struggle for that. I don’t know whether I will get the money back”, narrated Pampa.

Even Saswati Das, a housewife and resident of Malda is suffering the same pain. She wants her savings to be refunded to save her household from financial crisis.

Reportedly, 147 chit fund companies duped Rs.2.5lakh crore and only 36 have been ordered to refund to investors with sale of assets so far. Although cases are being proceeded following new dates ,which are at various stages in the Calcutta High Court,  the hardships donot seem to reduce for, Anup Saha, a resident of Malda ,who was also an agent with the chit fund. Bag lost a sum of  Rs 30lakh besides car and property. “I was making good profit when I worked as an agent, I lost 30 lakhs along with my car and property. Investors come knocking at my door claiming their money the company owes them , I'm under the pressure. The company made fake promises. I donot if we will ever get our money back.”

It is ironic that after 7years, after multiple arrests and CBI sleuths interrogating dozen of scammers the public still remain drowning in the debts of their hard earned money.

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