Talk:Saradha Group financial scandal

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Brainstorming for content[edit]

Kindly brainstorm any news about the scandal, so that it can be appropriately used in the article:

  • Late night meetings with officials
  • Use of ambulances, Kolkata police bikes for attending meetings, transferring cash
  • Use of fruit baskets in North Bengal to transfer cash
  • Use of rigged software
  • Use of servers situated in Boston, which were hired for a monthly fee of 44,000 USD.
  • Taking agents to luxurious locations and resorts for meeting.
  • Strategical use of photos of politicians to build faith in rural areas
  • More details about protests, including protests in similar companies
  • Similar protests/reactions in other states like Odisha, Jharkhand. Amartyabag TALK2ME 13:38, 30 April 2013 (UTC)[reply]
Good starting point, but because of the 'political minefield' each point has to be referenced with neutral sources. It would be better to have a few images as well and may be a logo of saradha group and an infobox.LegalEagle (talk) 13:54, 30 April 2013 (UTC)[reply]
Surajit kar purakayastha now kolkata CP attended a function of saradha. He attended it before he was CP. CPIM members Kanti Biswas who was education minister and the ex-Bishnupur CPIM MLA Ananda Biswas (not sure of title) attended a function of them too. This is neutral in sense that the accused are not part of TMC. Solomon7968 (talk) 17:12, 30 April 2013 (UTC)[reply]

Merge[edit]

It seems that a stub on same scam was created Saradha chit fund scam, an editor has requested for merge. I think it is quite apt to merge that article into Saradha Group financial scandal. In case there is no opposition, I would merge it in a couple of days.LegalEagle (talk) 10:01, 4 May 2013 (UTC)[reply]

GA Review[edit]

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This review is transcluded from Talk:Saradha Group financial scandal/GA1. The edit link for this section can be used to add comments to the review.

Reviewer: Khazar2 (talk · contribs) 12:02, 6 October 2013 (UTC)[reply]

I'll be glad to take this review--sorry you've had to wait so long for one! Initial comments to follow in the next 1-5 days. Thanks in advance for all your work on it. -- Khazar2 (talk) 12:02, 6 October 2013 (UTC)[reply]

Initial comments[edit]

I'm making some tweaks as I go; feel free to revert any with which you disagree. This looks like it's off to a good start--solid prose, good citations to reliable sources, and what seems to be fairly complete coverage of the topic. I do have some concerns about clarity and a few unsourced/possibly inaccurate statements, noted individually below. Let me know what you think. When you've had a chance to address these I'll continue with the rest. Thanks again for your efforts on this. -- Khazar2 (talk) 17:22, 6 October 2013 (UTC)[reply]

arbitrary collapse to avoid overlong page--issues resolved
  • "this practice was greatly curbed by several Moneylenders Acts enacted by state governments in the 1950s" -- this appears to need citation

✔ provided a relevant citation about intent of government from a report by Reserve bank of India, amended the line accordingly.

  • "However, the fundamental failure to replace the role of moneylenders gave rise to fly-by-night financial operators who ran Ponzi schemes in various disguises" -- calling this a "fundamental failure" seems POV, and needs intext citation ("According to analyst X,")

✔ dropped 'fundamental'

  • "However some commentators place" -- the citation only seems to indicate that one commentator feels this way. You should probably just say "Vivek Kaul places the blame..."

✔ added more citations

  • "complaints have been filed against more than 8 out of every 10 multi-level marketing and finance schemes in West Bengal" -- this doesn't seem to be a correct summary of this article, which says that out of every 10 complaints filed in India, 10 are in West Bengal--not that 80% of West Bengal financiers are Ponzi scams.

✔ amended appropriately

  • Is the comparison between Saradha and MMM (Ponzi scheme company) supported by a source?

✔ added one source (at some levels all ponzi schemes look similar)

  • "on an unprecedented spree" -- is there a source that this is unprecedented?

- This was a bit of OR so dropped 'unprecedented', but buying spree is cited by a Hoot article

  • "By 2013 it employed over 1500 journalists and owned eight newspapers in five languages" -- what is the source for this statistic?

✔ it was already there citation number 44

  • "It is possible that this Ponzi scheme only survived" -- this speculation should be attributed in-text to a specific author/speaker

✔ added one more citation

  • "He is in his mid-50s"; "Debjani is in her early 30s" -- this should be rewritten to include something like "at the time of his arrest", or "in 2013," per WP:REALTIME; this will go out of date in a few years

✔ did the necessary editing

  • " She was well known locally for her generosity to her community." -- needs a source

✔ added the source -- Khazar2 (talk) 17:22, 6 October 2013 (UTC) -- Looking forward to more comments etc. LegalEagle (talk) 18:05, 10 October 2013 (UTC)[reply]

Thanks! I'll take a look over these and work through the rest in the next 2-3 days. Cheers, Khazar2 (talk) 18:10, 10 October 2013 (UTC)[reply]
Er, sorry. My stepson's with us for the weekend--I'll actually be back on Tuesday, and will make this one of my first priorities. Cheers, Khazar2 (talk) 13:44, 12 October 2013 (UTC)[reply]
  • "However, apart from the SEBI investigation, no executive actions were taken at this time." -- this should probably be sourced.
  • "RBI governor" -- write out the acronym on first use ("Reserve Bank of India" I assume?)
  • "the tide had irrevocably turned." -- rewrite without idiom per WP:IDIOM
  • "After posting this letter on 10 April, Sen fled." -- This should have an inline citation. (since this article involves recent criminal activity, it needs more thorough citation than most for WP:BLP reasons.)
  • "On 17 April, approximately 600 collection agents claiming to be associated with Saradha Group assembled at the headquarters of TMC and demanded government intervention." -- needs citation
  • "The mood of despondency quickly spread across Bengal." -- Is this part sourced? The following source seems to focus on Dakshin Barasat rather than all of Bengal.
  • Mamata Banerjee should be identified by her position the first time her name is mentioned

Closing review[edit]

Overall this article does a very good job explaining this financial disaster--thanks for all your work on it! I don't believe it's ready for GA at this time, though, for the simple reason that it's an ongoing current event that hasn't fully played out yet. Already the article has fallen behind events such as the Sen commission repaying investors, more arrests, and M Bannerjee's attempts at relief. I would suggest that this be renominated once the commissions, official action, and major related trials (particularly Sudipto Sen's) are complete; until then, I'm not sure the article meets the stability criterion.

In the meantime, I see three major areas to work on: the lead, copyediting, and sourcing. The lead seems incomplete--for example, it doesn't mention Sen or Bannerjee, both major players in this. It could be expanded to better summarize the events. The article also needs minor copyediting, some of which I've already done. If you'd like any help with this, the Guild of Copyeditors takes requests and is usually terrific. Lastly, I'd suggest going over the article closely to make sure that all information is sourced with inline citations. Since this is about recent crimes and involves living people, it's important that it be rigorously cited.

I hope this helps, and sorry that for reasons beyond your control, I can't give it a pass at this time. If you work on the above, however, it should be ready for renomination when events are closer to resolution. Thanks again for your work on this, and just let me know if you have any questions, Khazar2 (talk) 15:08, 15 October 2013 (UTC)[reply]

Thanks for the review, I agree that the things need to play out completely, I would update the points raised by you and I guess things should stabilise by first quarter of next year, so hopefully I would try for GA again then. Thanks. LegalEagle (talk) 17:58, 15 October 2013 (UTC)[reply]
Great--good luck! -- Khazar2 (talk) 18:10, 15 October 2013 (UTC)[reply]

Removed text[edit]

Refeenced text removed during c/e that is either incidental ot, or unconnected with Saradha Group. Baffle gab1978 (talk) 02:39, 13 October 2014 (UTC)[reply]

Sikkim government[edit]

On 4 May 2013, based on complaints filed by depositors under Sikkim Protection of Interests of Depositors Act, Sikkim Police conducted raids on the Gangtok office of Kolkata-headquartered Rose Valley Group, which was also running unregistered collective investment schemes similar to Saradha group.[1][2]

Political reactions and protests[edit]

These two subsecs were commented out:

As per news media at least eighteen agents/depositors[3][4][5][6][7][8][9][10][11][12][13][14] and six executives/directors of various money pooling companies have committed suicide in the aftermath of the scandal.[15][16][17]

Suicides by victims of the scam[edit]

Since the breaking out of the news of the financial scam, the following agents and depositors have committed suicide:

  • (Redacted) (36, depositor, Balrampur, Purulia), by hanging himself from the ceiling of his house, on April,26
  • (Redacted) (55, agent, Delsinha village near Phalta, South 24 Parganas), by consuming pesticides, on 25 April
  • (Redacted) (50, depositor, Baruipur, South 24 Parganas), by setting herself on fire, on 20 April[11]
  • (Redacted) (33, agent, Mayabazar, Durgapur, Burdwan), by hanging himself from the ceiling of his house, on 19 April[3] -->


References

  1. ^ "Rose Valley office raided in Sikkim". The Indian Express. Guwahati. 5 May 2013. Retrieved 6 May 2013. {{cite news}}: |first= missing |last= (help)
  2. ^ "Chit fund Rose Valley office raided in Sikkim". Hindustan Times. Guwahati. 5 May 2013. Retrieved 6 May 2013.
  3. ^ a b Cite error: The named reference BS10 was invoked but never defined (see the help page).
  4. ^ "Agent Suicide". The Telegraph. Kolkota. 18 June 2013. Retrieved 19 June 2013.
  5. ^ Sharma, Bijoy (1 June 2013). "Saradha agent kills self". The Telegraph. Dhubri. Retrieved 2 June 2013.
  6. ^ "Agent wife dead". The Telegraph. Tamluk. 27 May 2013. Retrieved 28 May 2013.
  7. ^ "Agent dead". The Telegraph. Bengal. 26 May 2013. Retrieved 26 May 2013.
  8. ^ "Employee hangs self". The Telegraph. Kolkota. 22 May 2013. Retrieved 23 May 2013.
  9. ^ "Saradha scam: Stream of suicides continues, another agent hangs self". India Today. Kolkata. 16 May 2013. Retrieved 17 May 2013. {{cite news}}: |first= missing |last= (help)
  10. ^ "Saradha scam: 2 more commit suicide, toll mounts to 10". Business Line. Kolkata. 6 May 2013. Retrieved 9 May 2013.
  11. ^ a b "Terrifying consequence rears head Suicide after savings blow". The Telegrpah. Baruipur. 21 April 2013. Retrieved 29 April 2013.
  12. ^ "Another Trinamool Congress leader's name surfaces in Saradha scam". The Hindu. 26 April 2014. Retrieved 28 April 2014. {{cite news}}: |first= missing |last= (help)
  13. ^ "Funds agent found dead". Calcutta Telegraph. 2 May 2014. Retrieved 3 May 2014.
  14. ^ "Agent kills self, kin close in". The Calcutta Telegraph. 14 May 2014. Retrieved 15 May 2014.
  15. ^ "Meltdown of company triggers suicides in India". Asia News Network. 8 May 2013. Retrieved 9 May 2013.
  16. ^ "Deposit company owner hangs self". The Telegraph. Kolkota. 3 May 2013. Retrieved 9 May 2013.
  17. ^ "Default assault on firm boss". The Telegraph. Durgapur. 16 May 2013. Retrieved 17 May 2013.

Baffle gab1978 (talk) 02:39, 13 October 2014 (UTC)[reply]

/*Extnal links*/[edit]

==Extnal links===[edit]

does this make me a deletionist?[edit]

The Saradha Group financial scandal (Bengali: সারদা কেলেঙ্কারী) was a major financial scam and alleged political scandal caused by the collapse of a Ponzi scheme run by Saradha Group …

I'd cut a few words:

The Saradha Group financial scandal (Bengali: সারদা কেলেঙ্কারী) was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group …

Surely the financial scam was not caused by the collapse of a Ponzi scheme.

Is the phrase "alleged scandal" meaningful? Is a scandal not a scandal if it's based in false rumor?

The phrase "financial scam" need not be in there at all, because anyone who doesn't know that a Ponzi scheme is a financial scam can click through and quickly learn. —Tamfang (talk) 07:11, 26 October 2017 (UTC)[reply]

The link to the website is dead[edit]

The link to their website is dead and needs to be removed TianHao1225 (talk) 16:31, 6 January 2024 (UTC)[reply]

rose valley 2409:4061:4E81:54F1:0:0:7988:C208 (talk) 17:20, 30 March 2024 (UTC)[reply]

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