Tripura Court Sentences Ponzi Executives to Six Years for Fraud
Tripura CBI court jails 3 Ponzi executives for 6 years
The Times Of IndiaImage: The Times Of India
In Tripura, a special CBI court sentenced three executives of Pragatishil Infra Project Services Pvt Ltd to six years in prison for defrauding over 800 depositors of approximately ₹5.50 crore. The court also ordered the seizure of the company's assets to compensate the victims.
- 01The executives are Arindam Das (Chairman and Managing Director), Deepsikha Das (Administrative Director), and Paritosh Das (Managing Director).
- 02The firm operated as a chit fund company in Unakoti district since 2009, promising high returns to depositors.
- 03By late 2012, the company ceased payments to depositors, leading to an investigation and subsequent charges by the CBI.
- 04The court's decision marks the first instance in Tripura where a CBI court has imposed rigorous imprisonment in a chit fund scam case.
- 05The total amount embezzled was approximately ₹5.50 crore from more than 800 depositors.
Advertisement
In-Article Ad
A special Central Bureau of Investigation (CBI) court in Unakoti district, Tripura, has sentenced three executives of Pragatishil Infra Project Services Pvt Ltd to six years of rigorous imprisonment for defrauding depositors. The court, presided over by Judge Debasish Kar, found the executives guilty of embezzling around ₹5.50 crore from over 800 depositors. The firm, which began operations in 2009, collected deposits by promising attractive returns but ceased payments by late 2012, leading to numerous complaints and an FIR filed at the Kailashar police station. Following a thorough investigation, the CBI charged Arindam Das (Chairman and Managing Director), Deepsikha Das (Administrative Director), and Paritosh Das (Managing Director) under the Tripura Protection of Interests of Depositors (in Financial Establishments) Act, 2000. In addition to the prison sentences, the court ordered the seizure of the company's assets to compensate the victims, marking a significant legal precedent in Tripura's ongoing battle against fraudulent financial schemes.
Advertisement
In-Article Ad
This ruling serves as a warning to fraudulent financial firms operating in Tripura, potentially restoring some confidence among depositors.
Advertisement
In-Article Ad
Reader Poll
What do you think should be done to prevent Ponzi schemes?
Connecting to poll...
Read the original article
Visit the source for the complete story.



