Sanchayita Chit Fund Scam was a major financial scam caused by the collapse of a Ponzi scheme. The scam was unearthed in 1980 and it affected over 1.31 lakh(s) of people in West Bengal, India. Two main promoters of the Sanchayita group, Shambhu Prasad Mukherjee and Swapan Guha, were arrested. Shambhu Mukherjee leaped or was pushed to his death from a multi-storeyed building in Calcutta (the murder theory still holds sway in Calcutta although the police claim that he committed suicide). Swapan Guha was declared insolvent by the court. Another accused Bihari Lal Murarka, the third promoter, went underground and has not been traced since.[1][2][3][4][5][6]

References

  1. ↑ "33 years later, Sanchayita payback drags on - Times of India". The Times of India. Retrieved 31 July 2018.
  2. ↑ "WB chit fund scam brings back memories of Sanchayita collapse". News18. Retrieved 31 July 2018.
  3. ↑ "West Bengal in Damage Control After Chit Fund Scam". Outlook. Retrieved 31 July 2018.
  4. ↑ "30 yrs on, victims of Bengal's other chit scam get a pittance". The Indian Express.
  5. ↑ "Trust is a commodity: What the underbelly of Bengal's Saradha scam reveals - Firstpost". www.firstpost.com. Retrieved 31 July 2018.
  6. ↑ "Sanchaita Investments scam: Years of sparring in court lie ahead". India Today. Retrieved 31 July 2018.


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