Radhe Shyam Suthar: From ponzi king to preacher

Radhe Shyam Suthar, once infamous for orchestrating a Rs 3,000-crore ponzi cheme, has now rebranded himself as a spiritual leader. The former mastermind behind the fraudulent Future Maker Company is setting up an ashram named "Param Dham Meditation Centre" near Dabwali, on the Haryana-Punjab border.

Journey from fraud to faith

2018 – Future Maker Company fraud surfaces; investors cheated of Rs 3,000 crore

2018 – Suthar arrested; 50 cases filed across nine states

2018-2022 – Spends four years, three months in Hyderabad jail

Jan 2022 – Released from jail; starts giving religious discourses

2024 – Establishes Param Dham Meditation Centre in Dabwali

Enforcement Directorate has attached ₹300 crore worth of assets

Spread over three acres, the ashram is registered under the Param Dham Charitable Trust and claims to focus on meditation programmes, free food services, cow welfare, an orphanage, an old-age home and spiritual teachings. Suthar, now calling himself ‘Param Guru,’ plans to personally conduct satsangs and guide followers on spirituality.

To mark the grand inauguration today, Suthar has roped in famous singers Kanwar Grewal, Roshan Prince, Renuka Panwar, Gamdi Wala and Jerry for performances. However, questions loom over whether this transformation is genuine or a strategic move to regain financial control through donations.

Despite his controversial past, Suthar is actively seeking public donations under his Param Dham Charitable Trust. His website invites people to contribute towards education, feeding the poor, elderly care and cow welfare, assuring that funds will be used for noble causes. However, skeptics see this as another attempt to exploit people's faith under the garb of charity.

Radhe Shyam Suthar hails from Siswal village in Hisar. Before his new spiritual identity, he served as chairman and managing director (CMD) of Future Maker Company, with Bansi Lal as managing director (MD).

In 2018, the company’s fraudulent ponzi scheme unraveled, revealing that thousands of investors were duped of Rs 3,000 crore. Over 50 cases were registered against him across nine states, including Haryana, Gujarat, Madhya Pradesh, Delhi, Rajasthan and Maharashtra.

Arrested in 2018, Suthar spent four years and three months in Hyderabad jail before being released in January 2022. Soon after, he reinvented himself as a spiritual guru and started gaining followers through religious discourses.

The Enforcement Directorate (ED) has attached properties worth Rs 300 crore linked to Suthar. Despite his new spiritual avatar, authorities continue to monitor his activities closely.

While his followers see him as a reformed soul, critics believe this is just another scheme to extract money under the guise of religion.