The Central Bureau of Investigation (CBI) has arrested three individuals who had been evading authorities for over a decade in connection with the Tripura chit-fund scam. The arrests were made from different locations across India, underscoring the agency’s commitment to bringing financial fraudsters to justice.
The Arrests
On February 6, 2025, the CBI apprehended:
- Minnatullah Barbhuiya: Arrested in Hyderabad.
- Kamrul Islam Barbhuiya: Detained in Hojai, Assam.
- Imdadullah Barbhuiya: Captured in Vellore, Tamil Nadu.
All three are residents of Hailakandi district in Assam. Minnatullah and Kamrul Islam served as Directors of Kama (India) Projects and Services Ltd., the company at the center of the scam.
Background of the Case
The CBI took over the investigation following notifications from the Tripura government and the Government of India. The case was initially registered in three police stations: West Agartala (September 2014), Kumarghat (March 2013), and Teliamura (August 2012). The allegations centered on the collection of substantial sums from investors, with promises of high returns, without proper authorization from regulatory bodies like SEBI and RBI. The funds were subsequently misappropriated by the company’s management.
Evasion and Legal Proceedings
Despite multiple summons, the accused had remained untraceable, leading to the issuance of Non-Bailable Warrants (NBWs) by a Special CBI Court in Agartala. The CBI’s persistent efforts culminated in their arrests from different parts of the country. They are expected to be presented in court soon to face charges related to criminal conspiracy and misappropriation of public funds.
Recent Developments
Earlier, on February 3, 2025, the CBI arrested Bikash Das, another accused from Assam’s Hailakandi district, in Bhiwandi, Maharashtra. Das had been declared a proclaimed offender by a Special CBI Judge in Agartala and had a standing warrant issued against him since August 16, 2024. The agency had also announced a cash reward of Rs 20,000 for information leading to his apprehension.
The Broader Impact
The Tripura chit-fund scam has had a profound impact on the northeastern state, with numerous illegal chit-fund companies operating Ponzi schemes that defrauded thousands of investors out of crores of rupees. In response, the Tripura High Court mandated the formulation of a scheme to reimburse affected investors.
Conclusion
The recent arrests by the CBI highlight the agency’s unwavering dedication to pursuing financial criminals, regardless of the time elapsed. These developments offer a glimmer of hope to the victims of the scam, signaling that justice, though delayed, is being served.
