‘State shielding ponzi firms’
Senior BJP leader Dr Kirit Somaiya on Monday alleged that the state government is shielding and encouraging the ponzi chit fund and multi-level marketing (MLM) companies that lure investors by promising them handsome returns. He claimed
that instead of taking action, senior cabinet minister Babanrao Pachpute went to inaugurate the office of one such company.
Dr Somaiya also accused the Economic Offences Wing (EOW) of settling complaints that are being filed against such ponzi chit fund companies. On Monday, he met senior officers from the home department, including Amitabh Rajan, additional chief secretary (home) and handed over related documents to them.
He said that across Maharashtra, thereare more than 100 companies that are luring small investors by promising them heavy returns like double the amount in three years, 15+5 per cent commission, etc., which are almost impossible to fulfil. Around one lakh investors had invested almost `10,000 crore in these companies, he added. However, Dr Somaiya could only name 26 such dubious companies.
Dr Somaiya said, “After exposing the `5,000 crore Speak Asia company fraud, I am consistently urging the state government to take action against such companies. The documents were submitted to home minister R.R. Patil in person and also to the chief minister’s office. Despite this, no action was initiated against any of these companies.”
He further claimed that instead of initiating action, on February 22, 2013, Mr Pachpute inaugurated the office of a company called Samruddhi Jeevan Foods, which is again a chit fund company. He said, “The senior minister has inaugurated the business office of an NCP activist, who is the agent of the said company. Inauguration by a minister simply encourages such companies.”
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