Debjani Mukherjee, a co-accused in the multi-billion dollar Saradha chit fund fraud and the director of the Saradha Group of Businesses, had her bail motion denied by the Orissa High Court on Monday.
Rabinarayan Swain, a depositor, was defrauded of Rs 75,000. On May 6, 2013, the Economic Offenses Wing of the Odisha Crime Branch had filed a case in this regard. Along with Debjani, the other parties named as defendants in the case included Saradha Reality India, Saradha Garden Resort and Hotel Private Limited, various agents, and Debjani’s husband Sudipta Sen, chairman of the Saradha Group of Businesses.
On April 22, 2013, the Kolkata Police had detained Debjani in relation to a few scam cases. She was noted as having been detained on December 15, 2016, in connection with the case of Rabinarayan Swain while she was incarcerated. It was established by the CBI inquiry that the Saradha group had defrauded people of Rs 2,569 crore.
She was subsequently imprisoned.Early in the new millennium, Sudipta Sen introduced the Saradha plan. It gained popularity quickly because it catered to small investors and promised huge profits.
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