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Ex-Union minister Matang Sinh falls prey to Covid
By IANS |
Published on
Thu, May 6 2021 23:12 IST |
3 Views
Ex-Union minister Matang Sinh falls prey to Covid. Image Source: IANS News
Guwahati, May 6 : Former Union minister and Congress leader from Assam, Matang Sinh, passed away at a hospital in New Delhi on Thursday due to Covid-19, party sources said here.
Hailing from Tinsukia in eastern Assam, the 59-year-old Congress leader was a close aide of former Prime Minister P.V. Narasimha Rao. He was elected to the Rajya Sabha from Assam in 1992.
He had tested positive for coronavirus on April 22 and was undergoing treatment at a private hospital in the national capital.
The scheme, run by Saradha Group (an umbrella company with 200 private players), was launched in the early 2000s by businessman Sudipto Sen. Aimed at small investors, the scheme became popular in a very short time as it promised high returns. The money was collected through a wide network of agents, who were paid commissions of over 25 per cent. The Saradha Group raised about Rs 2,500 crore in a few years time. The company used varied marketing means to build its brand. Apart from popular marketing techniques like celebrity endorsements, the company used to sponsor cultural events such as Durga Puja and invest in popular football clubs to attract more investors.