A special CBI court in Tripura's Unakoti district has sentenced three executives of Pragatishil Infra Project Services Pvt Ltd to six years of rigorous imprisonment for defrauding depositors of crores of rupees. The Ponzi firm operated as a chit fund company, collecting deposits from the public with promises of attractive maturity returns.
Details of the Case
The firm began operations in Unakoti in 2009, but by late 2012, it stopped paying depositors even after their investments matured. This triggered complaints and an FIR at Kailashar police station. Following an investigation, the CBI filed charges against Arindam Das (Chairman and Managing Director), Deepsikha Das (Administrative Director), and Paritosh Das (Managing Director).
Court Verdict
CBI judge Debasish Kar convicted the three under the Tripura Protection of Interests of Depositors (in Financial Establishments) Act, 2000. The court found them guilty of embezzling approximately Rs 5.50 crore from more than 800 depositors. Special CBI public prosecutor Prasenjit Saha confirmed that trial evidence showed clear misappropriation of funds.
In addition to the prison sentence, the court directed the district magistrate to seize the company's assets to compensate the victims. This ruling is the first in Tripura where a CBI court has imposed rigorous imprisonment in a chit fund scam case.
Context of Financial Frauds in Tripura
The case highlights repeated instances of fraudulent financial schemes in the state, including those linked to Rose Valley. The court's decision sends a strong message against such malpractices and aims to protect the interests of depositors.
The sentencing marks a significant step in holding Ponzi scheme operators accountable and ensuring justice for the victims who lost their hard-earned money.
