ED seize assets of East Bengal official Debabrata Sarkar over Saradha Scam

The official was previously arrested for being associated to the scam.

The Enforcement Directorate (ED) has revealed that East Bengal official Debabrata Sarkar was among the ‘beneficiaries’ of the Saradha Scam case. The government of India’s law and economic intelligence agency has attached assets worth over ₹6 crores – which includes that of Sarkar as well.

What did ED say about Saradha Scam case beneficiaries?

The Enforcement Directorate named Sarkar as one of the many people linked to being associated with the assets that were seized recently. They said in a statement: “The beneficiaries include Nalini Chidambaram, Debabrata Sarkar, Debendranath Biswas (ex-IPS and ex-MLA from CPM) and Anubhuti Printers and Publications owned by late Anjan Dutta, ex-minister in Assam.”

The ED added that movable assets worth ₹3.3 crores and properties worth ₹3 crores have been attached in an ongoing probe around the money laundering scam.

What is the Saradha Scam case?

The Saradha group financial scam was a huge financial scam exposed in 2013. It was a financial scam and a ponzi scheme run by the group, with a group of over 200 private companies that were said to be involved in running investments referred to as ‘chit funds’.

However, the entire scheme collapsed in April 2013 – with the Saradha Group and its investors going defunct. The group ended up cheating lakhs of small-time, poor investors through its chit fund. They had operators in West Bengal, Assam, Jharkhand, Odisha, and Chhattisgarh. It was estimated that ₹2,460 crores was raised from over a million depositors.

Who is Debabrata Sarkar?

Debabrata Sarkar has been a part of East Bengal’s management from early 2000s. He played a major role in helping them bag their current investor, Emami – with help from the West Bengal chief minister Mamata Banerjee.

Sarkar is a really divisive figure among the East Bengal fanbase. He has some fans at the club, but others also blame him for being responsible for the club’s major issues over the last few years – including their tussle and end of partnerships with multiple investors.