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Somaiya says state allowing Ponzi scheme operators

BJP leader Kirit Somaiya claimed Thursday the state government and Maharashtra Police Economic Offence Wing (EOW) were reluctant to crack down on 26 Ponzi companies that have allegedly raised Rs 10,000 crore from 10 lakh investors promising high returns.

Written by Express News Service | Mumbai | Updated: April 15, 2014 5:40 pm

BJP leader Kirit Somaiya claimed Thursday the state government and Maharashtra Police Economic Offence Wing (EOW) were reluctant to crack down on 26 Ponzi companies that have allegedly raised Rs 10,000 crore from 10 lakh investors promising high returns.

Somaiya alleged the companies were receiving political patronage with NCP minister Babanrao Pachpute attending the inauguration of an office of one in Pimpri-Chinchwad.

“The Mumbai EOW has become a den of settlements. I gave them a list of 26 companies that have floated Ponzi schemes. However,they did not act,” he said.

Somaiya claimed he alerted police as well as the chief minister but again no action was taken against the companies.

He has allegedly submitted a list of such companies to assistant chief secretary (home) Amitabh Rajan.

“I have given home department officials the documents. If there is no action,I will approach the courts,” Somaiya said.

He accused ministers in the government of complicity. “NCP leader Babanrao Pachpute was present at the inauguration of a branch office of one such company which was opened by an NCP member in Pimpri-Chinchwad,” Somaiya said.

Tribal welfare minister Pachpute did not respond to calls.

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