Kolkata, Feb 21 IBNS | 10 months ago

The Bidhannagar subdivision court on Friday sent Saradha Group Chairman and Managing Director Sudipta Sen to jail for three years in a ponzi scam.

Sen appeared before the court on Friday and confessed his crime after the company failed to pay the Provident Funds of its employees.

When the court asked him if he is responsible for this, Sen said he is the one who is guilty of not paying his employees.

The court also directed him to pay a fine of Rs. 10,000. On failing to pay the amount, he will have to spend additional six months in jail.

As many as 704 cases have been filed against Sen in the Saradha 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.

(Posted on 21-02-2014)

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