Young, qualified employees caused my downfall: Sen
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Saradha Group chief Sudipta Sen said he was never a small-time builder or known as Shankar Sen as assumed. He said he has also never owned a house at Survey Park.
Investigating officers said during interrogation, Sen has revealed that he had been a promoter at Naktala in 2000. He forayed into the money market in 2008. He built castles in the air for poor investors, knowing well it was not possible to provide returns at such high interest rates.
According to police sources, Sen, during interrogation, said: "Young and qualified employees had been the prime reason behind my downfall."
Police said property worth Rs 500 crore had been identified in Bishnupur and property worth another Rs 500 crore had been found during interrogation since Sen's arrest.
Police today also seized six bikes with Kolkata Police's stickers from a garage behind the Midland Park office building of Saradha Group. The bikes, fitted with beacons and hooters, were brought to Electronic Complex PS, in Salt Lake. "We suspect these bikes were used by the employees of Saradha Group to ferry documents at night to avoid attracting police attention," said a senior officer.
His building promoting business flourished and he rented an office for Sarada Constructions (it was spelt thus then) on Free School Street and had appointed a retired IPS officer as one of the directors. Later, he had to vacate that office when business slumped and he default on rent for five months, at the rate of Rs 60,000 per month.