Mamata has no link with Ponzi scam: WB minister

Trinamool Congress Rajya Sabha MP Kunal Ghosh on Sunday said West Bengal Chief Minister Mamata Banerjee and her party had no link with the chit fund company Saradha Group, which has closed shop failing to repay hundreds of depositors' money.

"The Chief Minister and Trinamool Congress have no link with Saradha Group. All allegations are baseless," Ghosh, who was the CEO of the group's media unit, said.

"I was a salaried journalist of the group's media unit. When Saradha ventured into media business, I was not there. I only joined the media unit after the tie-up between Bengali daily Sambad Pratidin and Saradha, not as an MP, but as a professional journalist," he claimed.

Ghosh, who earlier worked as a journalist in Sambad Pratidin said, Saradha Group started its operation during the previous government.

"There is no question of TMC patronising the Saradha Group," he said.

After the chit fund company went bust, the state government ordered arrest of its chairman and managing director Sudipta Sen, who is absconding.

Hundreds of depositors had laid siege to Mamata Banerjee's residence on Friday demanding return of the money invested with the group. Protests by depositors were also reported from the districts.