K K BASKARAN Vs. STATE

JUDGEMENT

(1.) Delay condoned. Leave granted.

(2.) Heard learned counsel for the appellant.

(3.) Financial swindling and duping of gullible investors/depositors is not unique to India. It has been referred to in Charles Dicken's novel 'Little Dorrit', in which Mr. Merdle sets up a Ponzi scheme resulting in loss of the savings of thousands of depositors including the Dorrits and Arthur Clennam. In recent times there have been many such scandals e.g. the get- rich-quick scheme of the scamster Bernard Madoff in which the estimated losses of investors were estimated to be 21 billion dollars.