View source for Finance:Sanchayita chit fund scam


{{short description|Financial scam in West Bengal, India in the 1980's}}
'''Sanchayita Chit Fund Scam''' was a major financial scam caused by the collapse of a Ponzi scheme. The scam was unearthed in 1980 and it affected over 1.31 lakh(s) of people in West Bengal, {{wipe|India}}. Two main promoters of the Sanchayita group, Shambhu Prasad Mukherjee and Swapan Guha, were arrested. Shambhu Mukherjee leaped or was pushed to his death from a multi-storeyed building in Calcutta (the murder theory still holds sway in Calcutta although the police claim that he committed suicide). Swapan Guha was declared insolvent by the court. Another accused Bihari Lal Murarka, the third promoter, went underground and has not been traced since.<ref>{{Cite news|url=https://timesofindia.indiatimes.com/city/kolkata/33-years-later-Sanchayita-payback-drags-on/articleshow/19686212.cms|title=33 years later, Sanchayita payback drags on - Times of India|work=The Times of India|access-date=2018-07-31}}</ref><ref>{{Cite news|url=https://www.news18.com/news/india/wb-chit-fund-scam-brings-back-memories-of-sanchayita-collapse-604815.html|title=WB chit fund scam brings back memories of Sanchayita collapse|work=News18|access-date=2018-07-31}}</ref><ref>{{Cite news|url=https://www.outlookindia.com/newswire/story/west-bengal-in-damage-control-after-chit-fund-scam/796174|title=West Bengal in Damage Control After Chit Fund Scam|work=Outlook|access-date=2018-07-31}}</ref><ref>{{Cite web|url=http://archive.indianexpress.com/news/30-yrs-on-victims-of-bengal-s-other-chit-scam-get-a-pittance/1121589/|title=30 yrs on, victims of Bengal's other chit scam get a pittance|website=The Indian Express}}</ref><ref>{{Cite web|url=https://www.firstpost.com/india/what-the-underbelly-of-bengals-saradha-scam-is-revealing-about-politicians-industries-1724513.html|title=Trust is a commodity: What the underbelly of Bengal's Saradha scam reveals  - Firstpost|website=www.firstpost.com|access-date=2018-07-31}}</ref><ref>{{Cite web|url=https://www.indiatoday.in/magazine/economy/story/19860715-sanchaita-investments-scam-years-of-sparring-in-court-lie-ahead-801058-1986-07-15|title=Sanchaita Investments scam: Years of sparring in court lie ahead|website=India Today|language=en|access-date=2018-07-31}}</ref>

==References==
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[[Category:Financial scandals]]



{{Sourceattribution|Sanchayita chit fund scam}}