Agartala: A Special CBI Court in Tripura on Saturday convicted three individuals in connection with a multi-crore ponzi scheme that allegedly defrauded hundreds of depositors by promising high returns on investments. The court found the accused guilty of criminal conspiracy, cheating, and violations of the Tripura Protection of Interest of Depositors (TPID) Act, 2000.
The convicted persons have been identified as Arindam Das, Paritosh Das, and Dipsita Das Chakraborty. The verdict was delivered by Special CBI Judge Debasish Kar after a prolonged trial. The prosecution was represented by advocate Prasenjit Saha.
According to the prosecution, the accused had incorporated a company named Pragatishil Infraproject Private Limited (PIPL), with its corporate office located in Kailashahar. The company established a network of branch offices across various parts of Tripura and lower Assam and collected money from the public by offering lucrative returns on maturity through investment schemes.
Saha informed reporters that the company operated between 2009 and 2012. However, from 2011 onwards, it allegedly failed to repay depositors upon maturity of their investments. Investigators estimated that more than Rs 5 crore was siphoned off through the fraudulent schemes.
Following complaints from affected investors, several police cases were registered before the matter was transferred to the Central Bureau of Investigation (CBI) for a detailed probe. During the investigation, it emerged that the company’s Chairman and Managing Director, Arindam Das, had earlier been associated with the Kama India Group and later launched PIPL. Investigators also found that he had started a microfinance company in Kolkata, but none of his ventures had obtained approval from the Securities and Exchange Board of India (SEBI) or other competent regulatory authorities.
The court convicted Arindam Das (CMD), Dipsita Das Chakraborty (Assistant Director), and Paritosh Das (Managing Director) under Sections 120B and 420 of the Indian Penal Code and Section 3 of the TPID Act, 2000.
The court sentenced the accused to five years’ imprisonment each under Sections 120B and 420, along with fines of Rs 1 lakh under each count. Under the TPID Act, they were awarded six years’ imprisonment and an additional fine of Rs 1 lakh. The company was also directed to pay a penalty of Rs 5 lakh.
