Investment firm promoter gets 33 yrs imprisonment in cheating case
The three-member Forum -- comprising K N Tungar, Sandhya Barlinge and Kiran Thole -- in its judgment yesterday found the firm Unique Group director Premchand Kamble guilty of cheating 135 investors and sentenced to undergo punishment of three months each that comes to total 33 years and 75 days. The Forum also slapped a fine of Rs 5,000 on him.
Kamble, hailing from Kolhapur district, was currently staying in Thane. He had formed the investment company and floated an investment scheme of three years on the promise of hefty returns to investors.
Evoking good response to the scheme, 135 investors had invested their money from here but they did not receive monthly interest during the term neither a car nor principal amount as assured by him.
Later, all the investors filed a complaint before the Forum against the firm.
(Posted on 09-05-2014)