Major developments in Coimbatore’s Paazee Finance fraud case, defrauding 58,571 people of INR 930.71 crores. Prominent accused, including ex-IG Pramod Kumar, are scheduled for a significant court appearance on November 4th.
Coimbatore: A special court in Coimbatore has issued a significant directive in the notorious Paazee Finance scam case. Paazee Forex Trading company, headquartered in Tirupur, is accused of defrauding 58,571 people of INR 930.71 crores by promising exorbitant returns on investments and failing to deliver.
For allegedly protecting the directors of Paazee Finance, the former Western Zone IG Pramod Kumar, along with other officials, has been accused by the CBI of receiving a bribe of INR 2.50 crores. This development comes after a decade-long legal process initiated in 2013.
Today, IG Pramod Kumar appeared before the CBI court in Coimbatore. The court has dismissed a bail plea and issued a non-bailable warrant against him, instructing the CBI's economic offences wing in Chennai to ensure his appearance.
Following a detailed examination of the petition to release Pramod Kumar, the court has scheduled another hearing on October 31st. Furthermore, a hearing involving all the accused, including Pramod Kumar, is set for November 4th, wherein comprehensive responses are expected in this extensive fraud case.
For allegedly protecting the directors of Paazee Finance, the former Western Zone IG Pramod Kumar, along with other officials, has been accused by the CBI of receiving a bribe of INR 2.50 crores. This development comes after a decade-long legal process initiated in 2013.
Today, IG Pramod Kumar appeared before the CBI court in Coimbatore. The court has dismissed a bail plea and issued a non-bailable warrant against him, instructing the CBI's economic offences wing in Chennai to ensure his appearance.
Following a detailed examination of the petition to release Pramod Kumar, the court has scheduled another hearing on October 31st. Furthermore, a hearing involving all the accused, including Pramod Kumar, is set for November 4th, wherein comprehensive responses are expected in this extensive fraud case.