End of a decade-long hide and seek: CBI arrests Triputra’s Sanjit Chakraborty Rs.7 crore chit fund scam
By Our Correspondent
Agartala, May 14, 2026
In a major breakthrough in one of Tripura’s most controversial financial fraud cases, the Central Bureau of Investigation (CBI) has finally arrested alleged chit fund mastermind Sanjit Chakraborty after more than 11 years on the run. The arrest marks a significant development in the long-pending investigation into a multi-crore investment scam that devastated thousands of depositors across the state.
According to sources, Sanjit Chakraborty was apprehended by the CBI from a secret hideout in Kolkata after years of evading law enforcement agencies by frequently changing locations and identities. Officials described the arrest as a major operational success for the investigating agency.
The case dates back to 2013, when several unregulated financial and chit fund companies mushroomed across Tripura, promising ordinary people extraordinarily high returns on their investments. Lured by assurances of doubling their money within a short period, thousands of middle-class and lower-income families invested their life savings in these schemes.
Among the most prominent entities under scrutiny was MS Cosmic Negotiates, allegedly operated by Sanjit Chakraborty. The company is accused of collecting crores of rupees from unsuspecting investors through fraudulent financial schemes.
Tripura Police had initially registered an FIR against Chakraborty in 2013. However, before investigators could tighten the net around him, he allegedly disappeared and remained absconding for over a decade.
Considering the magnitude and interstate nature of the fraud, the Tripura Government later recommended a CBI probe, which was approved by the Central Government under the Delhi Special Police Establishment (DSPE) Act, 1946. Following the takeover of the investigation, the CBI uncovered a deeper and more extensive financial conspiracy.
The agency’s first chargesheet, filed in 2015, reportedly revealed financial irregularities amounting to nearly Rs.7.48 crore. Subsequently, a second chargesheet submitted in 2024 exposed an additional fraud of around Rs.27.13 lakh. Altogether, investigators estimate that the total financial scam linked to the accused exceeds Rs.7.75 crore.
Investigators stated that tracking Chakraborty was particularly challenging as he constantly shifted locations to avoid detection. Despite repeated attempts over the years, he managed to stay out of reach until the recent operation in Kolkata.
The arrest has reignited hope among thousands of affected depositors who have long awaited justice and recovery of their hard-earned money. Many victims had lost their savings, retirement funds, and even mortgaged properties after investing in the fraudulent schemes.
Legal experts believe the arrest could accelerate pending court proceedings and potentially lead to further revelations regarding the network of operators and associates involved in the scam.
The CBI is expected to produce the accused before a competent court and seek custody for further interrogation. Officials indicated that the investigation remains active and additional financial trails and accomplices may still emerge during the course of questioning.
The arrest of Sanjit Chakraborty is being seen as a reminder that economic offenders may evade the law for years, but cannot escape it indefinitely.
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