What is Saradha scam case

The Saradha scam, also known as Saradha Group financial scandal, was a major financial scam that surfaced in 2013. 

 

Investigation into the multi-crore ponzi scheme has been on since then.

 

The Saradha scheme

 

The scheme, run by Saradha Group (an umbrella company with 200 private players), was launched in the early 2000s by businessman Sudipto Sen. Aimed at small investors, the scheme became popular in a very short time as it promised high returns. The money was collected through a wide network of agents, who were paid commissions of over 25 per cent. 

 

The Saradha Group raised about Rs 2,500 crore in a few