Saradha chief gets 3 yrs in jail

KOLKATA: Saradha group chairman Sudipta Sen got a three-year jail term on Friday for not depositing money to employees’ provident fund. This was the first verdict against Sen, who is facing a battery of charges over the ponzi scheme that collapsed in April 2013.

A local court convicted Sen for criminal conspiracy and criminal breach of trust after he pleaded guilty. The two relevant sections of IPC carry a three-year jail term which will run concurrently. Besides, a penalty of 10,000 was also slapped on him.

The depositors and former employees appeared unimpressed.

“Sen has been handed a token term in a fringe case. It is just a ploy to cover up the actual incident. No depositor or employee is getting any relief through this April 23

April 24

CM announces the

verdict,” said Ashim Chatterjee, convenor of Chit Fund Sufferers Unity Forum.

Sen presided over an empire that employed thousands in diverse businesses including ponzi schemes, real estate, tourism, media and consumer goods. His employees alleged that though deductions were made from their

November 23 arrested

February 21, 2014 Sen handed first sentence – three years in jail

salary, the money was rarely deposited in provident fund.

A former employee filed a complaint last year against Sen and three others – Trinamool Rajya Sabha MP Kunal Ghosh, who was also the executive director of Saradha, and company officials Debjani Mukherjee and Somnath Dutta.