Many people might not be aware of them, but there are a number of expensive luxury cars that have been abandoned by their owners. Now, some of these cars are abandoned because of high maintenance costs, but some are also abandoned due to being involved in scams. Most recently, a few pictures of one such luxury car abandoned due to being involved with a massive scam have been shared online. This particular car is a Mercedes Benz E350 Cabriolet, and it is from South Kolkata. This car belonged to the owners of the Saradha Group Ponzi scheme, which defrauded millions of investors out of billions of dollars.
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These pictures of the Mercedes Benz E350 Cabriolet abandoned in Kolkata have come courtesy of Calcutta Exotics. We can note that this luxury convertible sports car is sitting in an underground parking spot. According to the post, this car is parked in the basement of Shapoorji Sukhobristi Newtown.
It can be noted that the car is completely covered in a very thick layer of dust and dirt. Also, it can be noted the front Mercedes Benz logo is missing, along with headlight washer covers. Apart from this, most of the car looks in decent condition, which means that it does not have any dents or damages. Generally, the air suspension of this generation of Mercedes Benz cars collapses, but this one looks in decent shape.
The Hidden Scandal Behind This Mercedes
Now coming to the details of this particular Mercedes Benz E350 Cabriolet, it used to belong to Subhojit Sen, who is the son of Sudipta Sen, the former Chairman and Managing Director of the Saradha Group. This car was seized by the police in 2013 during an investigation into the financial fraud done by the Saradha Group.
The group’s operations, for those who may not be aware, were a massive Ponzi scheme. People involved in this scam deceived over 1.7 million investors and amassed between $4-6 billion. With today’s inflation, it comes out to be around $10 billion.
Coming back to this Mercedes Benz E350 Cabriolet, back in 2013, the police authorities managed to seize the Mercedes from the residence of Subhojit Sen’s friend in Deshapriya Park, South Kolkata. Subhojit, who was absconding at the time, had been using the car regularly. This vehicle, along with over 40 other luxury cars, Tata Sumos, ambulances, and motorcycles, was also confiscated.
This particular Mercedes convertible sports car can also be seen with a Haryana registration number HR10 J-3434. It is registered in Sonepat district and has a VIP number. Most likely, the owner of this car paid a hefty payment for its registration. Currently, this car is under seizure, and most likely, it will remain abandoned until it comes up for auction.
The Saradha Group Financial Scandal
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Now coming to the details of the Saradha Group financial scandal, which surfaced in 2013. It is considered one of the largest Ponzi schemes in India. The group comprised over 200 private companies. The main task of these companies was to collect vast sums of money from the public under the guise of various investment schemes. These schemes promised high returns but were essentially frauds.
The scheme began unraveling in early 2013 when cash inflows could no longer meet the promised payouts. Sudipto Sen, the mastermind behind the scam, then fled after sending a confessional letter to the Central Bureau of Investigation (CBI). In his letter, he revealed the extent of the political and financial corruption involved.
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Following the collapse of the Saradha Group, both state and central governments launched investigations. The West Bengal government established an inquiry commission and a relief fund of $60 million to help low-income investors. The central government also initiated a multi-agency probe involving the Income Tax Department, Enforcement Directorate, and the CBI.
In May 2014, the Supreme Court of India transferred all investigations to the CBI. According to reports, Kunal Ghosh and Srinjoy Bose, Members of Parliament from the Trinamool Congress, were involved in this scam. Additionally, Rajat Majumdar, former West Bengal Director General of Police, and Madan Mitra, Sports and Transport Minister in the Trinamool Congress government, were also named in this Ponzi scheme.
The post This Abandoned Mercedes Has A Massive Scam Behind It first appeared on Cartoq.
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