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As per the prosecution case, the applicants and co-accused persons, who were the Director, Manager, Employees and Agents of Pincon Group of Company had collected huge amounts from innocent persons assuring them that they would get handsome returns after the stipulated period. However, they did not pay the money even after the maturity period. On the other hand, they closed down the company office. Thus they cheated innocent people. The specific allegation against the applicants are that the applicants were the Agent of the said company and they induced the innocent investors to deposit the money with the company and also collected money from them.