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  • Category: Miscellaneous

    Behind a sudden wealth accumulation there is always crime and illegal activity

    Some businessmen with the shear hard work and serious efforts become millionaires but it takes time in that and generally a full generation time goes in that. If not, then 10-15 years is a minimum time. There are examples of innovative businesses like Google, Facebook etc which have flourished but took time in reaching to present day heights.
    At the same time there are some cases where people had not worked hard and just because of their positional advantage amassed a lot of wealth by wrong and corrupt means and became millionaire within no time and when there was a raid of ED or CBI or any other agency then they start to justify it with the help of some lawyers and in shadow of agricultural income or some ancestral property. This has happened in past also and we have seen it happening. So, sudden wealth accumulation is a clear source of some malpractice and corruption. What is the opinion of the members?
  • #716561
    I know a person who did extremely well in the business and become a very rich man. He was a small farmer in a village. He sold that land and invested in a business in a nearby town and he became very rich in a couple of years. He never did any illegal activity or crime. But he wisely invested the little money in different areas and whatever profit he was getting he reinvested without wasting. That made him a very rich man.
    As mentioned by the author, short term gains are not possible. We have to do a lot of hard work and struggle day and night. Then only we may be successful. There are some easy ways to make money. One such thing is lending money at a very high rate of interest. I don't know we can call it illegal or not. They give Rs,90/- in the morning. In the evening he will get back Rs.100/-. Many small business people like street vendors will take money like this and live on the profits they get.

    drrao
    always confident

  • #716577
    Though earning money in some illegal way is not detectable in the village circle. Their business are simple where they may offer some hundred rupees to the needy at the rate of 3 % per month for a certain period and the ultimate earnings by way of interest amount to a respectable amount. In such a business, no risk is associated since the money lender asks for some costly items as mortgage. It is a risk free business for them and there has never been any raid for this unlawful practice.
    Despite strict regulations of tracking such illegal activities, such business is still flourishing in some pockets in our villages since there is no vigilance activity there resulting in mushrooming of such illegal activities.

  • #716578
    In general, it is difficult to make a fortune in a short span of time. There may be a few cases where a lot of money is made legally in a short period of time. Illegal businesses will invariably have the backing of powerful people in society. It is difficult to prove the illegality also as they take all precautionary measures. Such people may amass a huge wealth but they lose their peace of mind as they will have a fear that they may be caught. It is always better to do business in a legal manner and try to earn money over a period of time. They are free from worries and will be able to enjoy their hard-earned wealth.
    " Be Good and Do Good "

  • #716600
    There is a popular proverb - "Rome was not built in a day". It signifies anything significant cannot be completed in a short time. It applies to every aspect. There is a limit to accumulate wealth and if there is a sudden increase it's natural to start questioning the source. Presently, two legal ways through which one can amass wealth suddenly are coming to my mind. One is through equity market and another is through winning a lottery. There may be some other legal ways but mostly the outcome of various investigations indicate that the sudden accumulation of wealth is associated with engagement in illegal activities. There are many corrupt politicians whose wealth and lifestyle suddenly change after winning an election, even after winning an election to local bodies also. There are people who become crazy to earn money and while accumulating money they do not care whether it's through a legal way or not.
    Sankalan

    "Life is easier when you enjoy what you do"

  • #716603
    I do agree with the author that when the leaders acquire money and wealth they first develop their building or modernize them further for the secure future getting income through rents from the properties but he failed to note that the neighbors who are his close friends are aware of his past and the present and thus the sudden raise of building and modernization would certainly baffle everyone and one tip to income tax office or other enforcing authority would pave way for raids on confiscation of properties thus accumulated. I have seen a leader whose building was stale and remaining unfinished for many years started additional works and finish of his building with modern gadgets and modern looks baffled every one and me and then it was understood that he got one corporation chairman post and thus the development fast.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #716612
    Yes. A tea shop owner could own an asset worth Rs.1500 crores within 10 years by being in the ruling government. Politicians earn illegally. Who will question them? And who will investigate and take action against them? There should be some machinery to monitor this and take against them. What to do? All are criminals in white-clad.
    No life without Sun

  • #716614
    This observation of the author is not wrong at all. Generally, quick amass of wealth and property provided the person had not large ancestral property, then in most cases illegal business or unlawful activity might have been taken as the source making a heap of wealth.

    I am wondering where black money has gone. In past, we used to hear this term in news but now nobody speaks about black money. Has the hawala business been exterminated?

    Why big businessmen donate money in crores to political parties? I could not understand the reason for this magnanimity.

    Can the author answer these questions?

  • #716701
    So many good points and observations are responded by the members and I feel that many of us are aware about this in our country.
    Arafatuzzafar:
    That explanation would be like an article here and may be I would share those points separately. Hope you wait for them patiently. Thanks.

    Knowledge is power.


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