Trinamool Congress strikes back at opposition on Saradha ponzi issue

KOLKATA: Trinamool Congress, facing attacks over Saradha ponzi scam, today accused the opposition CPI(M) of doing "nothing" in the Overland and Sanchita chit fund scams which took place during the Left Front regime in West Bengal.

"Former West Bengal finance minister Ashok Mitra himself had noted that there was no trace of Rs 4000 crore to Rs 5000 crore in the Sanchita chit fund scam. Can we conclude that the money went to the (CPI-M) partymen?" state IT minister and senior TMC leader Partha Chatterjee alleged here today.

Mitra was the state's finance minister between 1977 and 1987.

Claiming that ponzi scheme companies mushroomed during the Left Front regime, Chatterjee said in 2001-2002 there were 17 such companies in the state and the amount involved was Rs 20 crore.

By 2010-2011 the number jumped to 1,249 chit funds and the amount raised by these entities was Rs 55,000 crore, Chatterjee alleged.

"The Left government had done nothing, while our government arrested the main accused (Saradha group chairman), set up a judicial commission and has already paid back money to four lakh depositors of Saradha."

West Bengal had imposed additional tax to raise a corpus to payback the small depositors.