Banswara : The court has punished the accused, who defrauded 150 people of crores of rupees in the name of doubling the money, with three and two years’ imprisonment and fine in two separate cases. Personal Secretary of CJM told that 9 years ago, in the name of doubling the money in Kotwali area, accused Pankaj Jain had opened a company in the name of Vagad Samriddhi Credit and Investment Co-operative Society Limited, Banswara and got people to open accounts and make investments.
Despite the completion of the time for depositing the amount, the accused did not return double the amount to even a single account holder. Also closed the company and ran away. In this case, the account holders had filed a case of fraud against Pankaj Jain. On Tuesday, accused Pankaj Jain, managing director of Vagad Samriddhi Credit and Investment Co-operative Society Limited, was punished by the CJM court with three years imprisonment in one case and two years imprisonment and fine in the other case under sections 420, 406/120 B. The accused was sent to jail.
