A Special Court of Tamil Nadu Protection of Interests of Depositors (TANPID) today sentenced two directors Tirupur-based Paazee Forex Trading (India) Private Ltd to undergo 27 years of imprisonment and slapped a fine Rs. 171.54 crore on them. 


The prosecution case was that the firm had cheated nearly 58,000 persons to the tune of Rs.930 crore, on promises of giving good returns for the money in 2011.


However, the company failed to give any money, and the case, which was taken over by CBI, was going on for the last nine years and the chargesheet was filed in 2013.  The judge AS Ravi sentenced K. Mohanraj and Kamalavalli to undergo 27 years of imprisonment and slapped a fine for the multi-crore scam.