The Kolkata based Saradha Group of companies has cheated people of Kishanganj district and adjoining areas. The people of the area have lost many crores after the multi-crore scam unearthed this past week and the Managing Director of the company absconded along with his aids. Functioning as Saradha Reality Indian Limited also known as Saradha Non-Banking Company the group was having its offices at various locations with regional office in Siliguri (West Bengal) has left its investors burgled and totally shocked.
Informed sources said that the agents of this group was luring investors mostly middle-class and lower middle class people with attractive interest rates and gifts in comparison to other banks functioning in the area. The investors comprised of small shopkeepers, daily wagers and others are in utter shock and not sure whether they would get back their money.
Saradha group agents including its higher officials had promised its investors that they would get 15 % interest on the amount deposited daily with the so called banking company. In addition to this, they had promised to double the fixed deposit (FD) amount in five years. Agents of Saradha group were getting 10 % commission for each customer, hence in lure of higher incentive around 1500 were working as agent in Kishanganj district itself for the company.
The agents of this fraud company were mostly targeting poor and illiterate people to invest money through networking. As soon the multi-crore scam came into notice, the branches of this company functioning in Kishanganj and Thakurganj have been shut down. Similarly, the offices in neighbouring areas of West Bengal are closed now. The investors of this area are highly uncertain to get back their money. There are rare chances the investors will get back their money as the company is indulged in Rs 4000 crore scam.
It should be noted that still dozens of such companies not following the norms of Reserve Bank of India (RBI) are functioning in the district. However, the district administration is yet to take any action against them. On the safer side, the investors are suggested to be cautious of such companies unless they might face fraudulent and loss their valuable money.
