scorecardresearch
Follow Us:
Saturday, October 24, 2020

Bengal: Eight get life term in Pincon chit fund scam

Pincon owner Manoranjan Roy and his wife Mousumi have been sentenced to life imprisonment. The court also ordered that investors should be paid back by selling properties of the couple.

By: Express News Service | Kolkata | Updated: October 5, 2020 1:26:18 pm
Pincon chit fund scam, Pincon chit fund scam bengal, bengal chit fund scam, Pincon chit fund scam accused, Pincon chit fund scam life termSources said while 20 people were accused in the case, two had died during the trial. (Representational)

Tamluk Court on Saturday awarded life sentence to eight people and fined Rs 5 lakh each after they were found guilty in Pincon chit fund scam. The court convicted them on charges of cheating, criminal breach of trust and criminal conspiracy, while it acquitted 10 others in the case.

Pincon owner Manoranjan Roy and his wife Mousumi have been sentenced to life imprisonment. The court also ordered that investors should be paid back by selling properties of the couple.

Special Public Prosecutor Bivas Chatterjee said the case was fought on the basis of several electronic evidences. An employee, also a witness in the case, had recovered data from hard disc that was owned by the company. The accounts recovered from the hard disc data showed that Rs 864 crore was invested in the chit fund company by the investors.

“The verdict was delivered to the accused through WhatsApp… Database from the server of offending companies are more important in economic offence cases,” said Chatterjee.

Sources said while 20 people were accused in the case, two had died during the trial.

The first complaint was lodged in 2017 against Pincon Group for collecting money from the market illegally at Khejuri police station. Later, the state Economic Offence Wing took up the investigation and arrested several portfolio holders of the Pincon Group, including Manoranjan and Mousumi. Though Mousumi was granted bail, Manoranjan was in judicial custody.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Kolkata News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement