The Saradha mess is a raging issue in Bengal now. Thousands of people have lost money and some their entire life's savings. There are dozens of such similar other ponzi schemes and companies running in the state. And they are run by individuals with virtually zero or negative business pedigree and reputation.
There has been many chit funds in the past and so is in the present and until and unless it is checked by proper legislation, it will grow in the future. The prominent cos in this regard are Saradha, Rose Valley, MPS, i-Core, Sumangal (ET today pg 16) and many others like Tower, Rahul etc etc. The single common factor amongst these ventures is the fact that they are founded and operated by one single man. And, most of these men have made their money and name in the last two decades. We can not deny the fact that they are a product of the times and the same society that we belong to. All these individuals come from modest backgrounds and started their careers in small jobs. But, their aspirations and ambitions aided by the lax legislature and the socio-politic fibre of Bengal gave them the window of opportunity to start and thrive in their dubious ventures.
I started my career in 1988-89 and left for Dubai in 2001. I worked hard and earned a decent living working in good reputable companies. I noticed that some of my school/college mates and relatives are associated with some small Bengali companies and they flaunt a lifestyle quite beyond mine. All of them told me to join them and they promised that I will earn in crores given my literal and oratory talents and skills. Something in my mind prevented me from joining them and I remained an observer from a distance only. I never invested one paisa in their schemes but wished them success in their lives. Some of them consulted me on their business activities and prospects and I told them what I saw bluntly on their face and they never came back. I was ostracized by a section of my friends for being "too ethical and moral" and "ajker din e choley na" which has been repeated by my wife and her relatives.
