Saradha scam accused Sudipto Sen convicted, gets 3-year sentence
22 Feb 2014 12:16 AM GMT
This is Sen’s first conviction in a slew of cases involving a multi-crore chit fund scam.
The magistrate of Bidhannagar court Swati Mukhopadhyay also fined Sen Rs 10,000 in the case related to default of provident fund amount of Rs 3.68 lakh filed last year. Sen pleaded guilty to the charge that he, as the company CMD, had defaulted on depositing the PF dues. Sen is accused to be the mastermind of the multi-billion-rupee chit fund scam that rocked the state last year.
Sen, whose Saradha Group ran ponzi schemes under different names, would have to undergo another six months’ imprisonment if the fine is not paid, the court directed.
He was convicted under section 406 (criminal breach of trust) for default in depositing provident fund (PF) of employees, to which Sen confessed before the court.
He was also sentenced to three years’ imprisonment for ‘conspiracy’ under section 120B of IPC in connection with the PF default.
Both the terms would continue concurrently and the number of days he has already undergone imprisonment since his arrest in April 2013 would be deducted from his imprisonment term.
Several hundred cases are still pending against Sen, accused of duping lakhs of depositors in West Bengal and other states.
The magistrate of Bidhannagar court Swati Mukhopadhyay also fined Sen Rs 10,000 in the case related to default of provident fund amount of Rs 3.68 lakh filed last year. Sen pleaded guilty to the charge that he, as the company CMD, had defaulted on depositing the PF dues. Sen is accused to be the mastermind of the multi-billion-rupee chit fund scam that rocked the state last year.
Sen, whose Saradha Group ran ponzi schemes under different names, would have to undergo another six months’ imprisonment if the fine is not paid, the court directed.
He was convicted under section 406 (criminal breach of trust) for default in depositing provident fund (PF) of employees, to which Sen confessed before the court.
He was also sentenced to three years’ imprisonment for ‘conspiracy’ under section 120B of IPC in connection with the PF default.
Both the terms would continue concurrently and the number of days he has already undergone imprisonment since his arrest in April 2013 would be deducted from his imprisonment term.
Several hundred cases are still pending against Sen, accused of duping lakhs of depositors in West Bengal and other states.
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