Omar:

There is no book like that that I'm aware of. There probably won't be for years. To write one people in power right now would have to talk truthfully about their flaws or allow access to source material that demonstrated their flaws. That isn't going to happen easy.

Until then guesses are all we may have. And your guess about the 'romance of the raj' being used as the fulcrum of a grift is one of the best.