Saradha scam: Sudipta Sen sent to jail
Posted on Feb 21 2014 | IBNS
Kolkata, Feb 21 : A Kolkata court on Friday sentenced Sudipta Sen, the Chairman and Managing Director of Saradha Group, which allegedly defrauded thousands of small investors, to three years in jail in the ponzi scam.
As many as 704 cases have been filed against Sen in the chit fund case.
Sen had claimed that he was blackmailed and used by politicians mainly from West Bengal's ruling Trinamool Congress (TMC).
In a letter to the Central Bureau of Investigation (CBI), Sen reportedly said he was forced to think of committing suicide as he was being blackmailed by influential politicians who were extorting money from him.
He said he is neither liable nor has the money to refund investors.
The Jammu and Kashmir Police on April 23, 2013 arrested Sen, Saradha Group director Debjani Mukherjee and another official Arvind Singh Chauhan in connection with the chit fund scam in West Bengal.
Sen was absconding since Saradha Group collapsed.