Businessman Kaustav Roy arrested by ED in PINCON Chit Fund scam

In a significant development in the ongoing investigation into the Pincon Chit Fund case, the Enforcement Directorate (ED) has arrested businessman Kaustav Roy after a thorough interrogation.

The arrest took place on Monday night when ED officials took Kausthav Roy into custody from their office at the CGO complex. He was later presented before the Bankshal court as part of the legal proceedings. 

Roy vehemently denies any involvement in any illegal activities related to the chit fund scheme. According to his claims, he firmly believes that he has been wrongfully framed in this case and maintains his innocence. His legal team is expected to contest the charges against him, stating that there is no substantial evidence to link him to any wrongdoing.

The Pincon Chit Fund case has been under the ED's radar for several months, with authorities working relentlessly to bring those responsible for defrauding investors to justice. The alleged scam has caused significant financial losses to many unsuspecting investors, leading to a clamor for accountability and justice.

As the case unfolds, the ED is expected to present their findings and evidence against Kausthav Roy in court. The prosecution will have the responsibility to prove his involvement in any fraudulent activities related to the chit fund.

The first complaint in this case was lodged in 2017 against Pincon Group for collecting money from the market illegally at Khejuri police station. Later, the state Economic Offence Wing took up the investigation and arrested several portfolio holders of the Pincon Group.

Stay tuned for further updates on this developing story.