The Central Bureau of Investigation (CBI) has arrested three absconding accused linked to the Tripura chit fund scam from different locations across the country. The arrests took place on Thursday in Hyderabad (Telangana), Hojai (Assam), and Vellore (Tamil Nadu), according to CBI sources.
The three accused, identified as Minnatullah Barbhuiya, Kamrul Islam Barbhuiya, and Imdadullah Barbhuiya, are residents of Hailakandi district in Assam. Minnatullah Barbhuiya and Kamrul Islam Barbhuiya were Directors of Kama (India) Projects and Services Ltd, the company at the center of the financial fraud investigation.
Background of the Case
The CBI took over the investigation following notifications from the Tripura government and the central government, re-registering the case based on three separate complaints initially filed at police stations in West Agartala (September 2014), Kumarghat (March 2013), and Teliamura (August 2012). The allegations involved massive financial fraud, where investors were lured with promises of high returns without any legal authorization from SEBI, RBI, or other financial regulators. The company’s operators allegedly misappropriated large sums of money from unsuspecting investors.
Investigation and Arrests
During the probe, CBI officials discovered that the key accused—Minnatullah, Kamrul Islam, and Imdadullah—had been evading authorities for a long time and had not cooperated with the investigation. They had absconded from their last known addresses, prompting the Special CBI Court in Agartala to issue Non-Bailable Warrants (NBWs) against them.
After an extensive search operation, the CBI successfully tracked and arrested all three individuals in coordinated raids across Hyderabad, Hojai, and Vellore. The accused will soon be presented before the court.
Earlier Arrest in the Case
In a related development, the CBI had also arrested another accused, Bikash Das, from Bhiwandi, Maharashtra, on February 3. Das, a resident of Assam’s Hailakandi district, was wanted in two FIRs linked to the chit fund scam. He had been declared a proclaimed offender by a Special CBI Judge in Agartala and had been absconding since 2013. On August 16, 2024, a standing warrant was issued against him, and the CBI had announced a cash reward of ₹20,000 for information leading to his arrest.
Impact of the Chit Fund Scam in Tripura
The chit fund scams in Tripura have been a major issue for several years, with multiple illegal Ponzi schemes defrauding thousands of investors and siphoning off thousands of crores of rupees. In response to the widespread financial fraud, the Tripura High Court directed the government to formulate a scheme to return the money to the affected investors who were duped by fraudulent chit fund companies.
With these latest arrests, the CBI is continuing its efforts to bring all accused to justice and recover the misappropriated funds.
