Bengal’s notorious syndicate mafia worth several hundred crores is finally broadening its horizons under pressure of demonetisation.
The syndicates allegedly enjoying the patronage of ruling Trinamool Congress and working under various banners have deployed their 15-20 thousand members into money converting business getting the promoters and builders to use their bank accounts to convert black money into white albeit for a price.
Sources in Rajarhaat-New Town, one of the largest and swankest townships in the country said tens of crores have already been converted into ‘flowing white’ by the zealous members most of who work under ‘pyramids’ run by MPs and MlAs and local councilors.
According to Pratyush (name changed) a builder, he has already deposited Rs 50 lakh with one such cartel which has promised to return Rs 35 lakh to him.
“The cooperative (a more temperate name for a syndicate) are of various sizes the smaller working under the bigger ones,” said BS political history-sheeter who runs one of the more powerful syndicates and is close to an influential Trinamool MlA.
While the bigger cooperatives charge 25 per cent, the smaller ones deduct 15 per cent of the total receipt from the builders who come to convert their money, they said. Hence “we have to end up parting with about 40 per cent of our total cash,” said Prantik another builder.
“There is no wrong in getting the money converted. After all it is the people’s money going to the people. You know the job condition in Bengal and we have formed cooperatives (once again read syndicate) which are feeding if not more 50,000 mouths alone in Rajarhaat area,” said BS.
“We share half of the politician’s responsibility by providing jobs to the people who would otherwise have revolted. The netas only want vote and fund for their party which we provide from our profit as we will do after gaining whatever from this converting business,” says Ajmal Sheikh (name withheld) from Bhangore area.
Curiously, aware of her party’s sagging political image Chief Minister Mamata Banerjee had warned the leaders to keep off the multi-crore building syndicate business.
“They often take the money with the promise of keeping it with them as advance for future supplying of building materials,” say Adarsh Agarwal a builder “hoping to get at least 50 per cent of my deposits back.”
The syndicate wallahs have at least 10,000 accounts of our members. The money taken from the builders is distributed in these accounts. “All the holders of accounts will be able to explain their deposits which will hardly go beyond Rs 2 lakh each. When appropriate time will come we will return the money deducting the percentage” said Nirmal (name changed) another syndicate boss close to a local MP.
“It is very difficult to catch them. They have a huge network which they are using to horde this money,” said a former Trinamool Pradhan who has currently been sidelined adding “it is not difficult to understand while our party is crying horse against demonetisation.”