Fresh Ponzi scam surfaces in West Bengal’s Asansol, ₹350 crore siphoned

Almost a decade after the ponzi scams of Saradha and Rose Valley groups shook West Bengal, a new fund scam has emerged at Asansol in Paschim Bardhaman district of the US. Locals staged protests demanding refund of money and police lodged FIRs at Asansol North Police Station against Tahsin Ahmed, who allegedly duped investors. Tahsin Ahmed is the son of Shakeel Ahmed, who belongs to the minority wing of the Trinamool Congress.

Opposition Leader Suvendu Adhikari said the scam affected 3,000 families. “Tahsin Ahmed, son of TMC’s Minority Wing Co-chairman in Paschim Bardhaman district, Shakil Ahmed aka Shakil Usta, has been looting more than 3,000 innocent families in Asansol for 3 years. ₹350 Crore was collected through a FAKE UNLICENSED company!” Mr. Adhikari posted on social media

The BJP leader claimed that “the great Trinamool Congress leaders and the corrupt administration have provided full protection, otherwise such a heist would not have been possible”. “Where did ₹ 350 Crore go? Benami properties? Terror financing? Anti-national activities? TMC’s dirty political slush funds?” Mr. Adhikari asked.

According to Nandigram, BJP MLA Tahsin Ahmed promised 14% monthly returns and then disappeared on October 15. Mr. Adhikari demanded the arrest of Tahsin Ahmed, return of money to investors and investigation of his money routes by SEBI-ED.

Moutusi Dutta, one of the victims of the alleged financial fraud, said that she deposited Rs 20 lakh by mortgaging her gold jewellery. “I got interest for a few months, then it suddenly stopped. Now when I go to ask for money, I get pushed around,” he said.

Trinamool Congress leader V. Sivadasan (Dasu) from Asansol said the scam has nothing to do with the party. “We want those behind the crime to be arrested. The defendant’s father (Tahsin Ahmed) was connected to the party until 2023.” Meanwhile, Tahsin Ahmed released a video apologizing to depositors, saying that he could not return the money.

The Rose Valley and Saradha scams shook the state around 2013 and dominated politics for several years. The Rose Valley scam, which spread its tentacles across various states in eastern India, was significantly larger than the Saradha scam; The Rose Valley scam ranged from ₹15,000 to ₹17,500 crore. In comparison, the Saradha scam was reported to be around ₹2,460 crore.