The arrest of veteran journalist Suman Chattopadhyay by the Central Bureau of Investigation (CBI) has made him the third most high-profile journalist in West Bengal to be accused in a chit fund scam after the arrest of expelled Trinamool Congress (TMC) MP and ex-editor of Bengali daily Sambad Pratidin, Kunal Ghosh, and its editor-in-chief Srinjoy Bose.

Chattopadhyay was arrested on Thursday for his alleged involvement in the I-Core Group chit fund scam. He was sent to three-day CBI custody by a Chief Judicial Magistrate Court in Bhubaneswar on Friday. The CBI said the I-Core Group—which had allegedly raised over ₹3,000 crore from people by offering high returns on investments—had diverted a portion of the funds through Chattopadhyay’s company.

This episode presents another case of the falling from grace of someone whose “celebrity image” has nurtured the growth of modern-day Bengali journalism over the past four decades. The incident also lays bare the ugly face of “money-driven” journalism in a state that seeks to thrive in money routed through questionable sources.

The media fraternity, including his rivals, refrained from speaking openly on the issue but there is a buzz that the investigations might open a can of worms. Sources privy to the development said the names of some other politicians and media persons may crop up after the investigating agency gathers more details.

The arrest remains a low-key affair in West Bengal’s media so far. Almost all the state’s prominent Bengali and English dailies did not cover the report. Even Ananadabazar Patrika, the largest circulated Bengali newspaper in the state, carried only a small report without mentioning Chattopadhyay ’s name. Ei Shomoy, brought out by Bennett Coleman & Co., where Chattopadhyay was working as the editor, sacked him within hours of his arrest.

I-Core and crores

Sources said the CBI is closing in on framing charges against Chattopadhyay as investigations point towards his involvement in the multi-crore rupee scam. Sources said he had taken money from multiple chit-fund firms besides I-Core.

“The editor’s complicity with the chit-fund firm is known to all. He has received ₹20 crore from firms and entities besides I-Core. He’s going to be framed soon unless there is any high-level political intervention,” said a security official who did not wish to be named.

From cub reporter to club of celebrities

Chattopadhyay began his career in 1981 as a cub reporter with Bengali daily Aajkaal. During his 25-year stint with the Anandabazar Patrika group, he lent them much more than just his name and face. He helped Anandabazar Patrika accomplish new heights as an executive editor. Known for dishing out analytical, content-rich news reports, Chattopadhyay gave Bengali journalism a new identity. He became the founding editor of Bengali news channel ABP Ananda, launched in late 2004, before quitting it in 2005. In that year, he joined Kolkata TV as its founding editor and quit the channel in 2006.

Chattopadhyay then launched Ekdin, his own Bengali newspaper, and another publication, Disha. He needed funds to implement these projects and is alleged to have taken money from chit-fund firms.

The CBI started quizzing Chattopadhyay in 2014 over allegations that he had received money from I-Core. The CBI had then found that a portion of the company’s funds was diverted to the account of Disha Productions and Media Private Limited (DPMPL) as well as Chattopadhyay’s personal account. His wife Kasturi was also interrogated in connection with the Saradha case in 2017.

A political investment?

The Saradha chit fund scam broke in 2013, two years after the TMC came to power in West Bengal. The political rivals of Chief Minister Mamata Banerjee alleged that much of the election campaigning was done with money from the chit funds, the Ponzi schemes that promised high returns to low-income groups, took their small savings and invested them in other projects.

Some of the companies that thrived in chit-fund money were Saradha, Rose Valley and I-core. The firms allegedly diverted their funds to launch media houses, which started television channels, newspapers and magazines. As a result, a large number of publications was launched in Bengal, though most of the entities downed shutters after CBI crackdown.

A former journalist said, “Many prominent journalists-turned-brokers among political parties took money. Chattopadhyay and Kunal Ghosh’s names came to the forefront, but what about others? General elections are nearing, so I won’t be surprised if many other big names find themselves behind bars.”

Incidentally, Ghosh—who was released after his three-year jail term—is the only person who spoke publicly on Chattopadhyay’s arrest.

Ghosh demanded to know why the media is silent now. He said, “The government took action against me and the media derived pleasure when I was arrested in a false case to which I had no connection. But why all are silent now? Why is the media silent now? The media, including Suman da [referring to Chattopadhyay], flashed the news of my arrest, but why all have gone silent now!”  

He added, “Did the same media spare editor-in-chief of Sambad Pratidin Srinjoy Bose and me? Sick to see journalism has degraded so much.”

The arrest has rung alarm bells in the corridor of power as Chattopadhyay is known for his affinity to chief minister Mamata Banerjee. Political experts opine that his arrest is a way to “corner the TMC government in the state just before the general elections.” They believe the Centre is trying to rake up chit fund issues once again to put pressure on the TMC government. The arrest is being seen as a “warning” to those who played broker during poll times.

The incident is likely to give the opposition BJP, which is locked in a tussle with the ruling TMC government over the saffron party’s proposed Rath Yatra in West Bengal, fresh fodder just before the high-voltage polls.

(Atonu Choudhurri is a member of 101Reporters.com, a pan-India network of grassroots reporters.)