CBI Court Convicts Accused, Awards Four Years’ RI with Rs. 14.05 Lakh Fine in Deposit Fraud Case:

CBI Court Guwahati convicts Md. Shakir in a deposit fraud case, sentencing him to four years’ rigorous imprisonment and imposing a Rs. 14.05 lakh fine.

CBI Court Convicts Shakir in Fraud Case

Vanshika verma

Sep 9, 2026

Last update on Sep 9, 2026

A CBI Court in Guwahati has sentenced Md. Shakir to four years of rigorous imprisonment (RI) and imposed a fine of Rs. 14.05 lakh for collecting and misappropriating public money from investors in Assam.

The case relates to the collection of unregulated deposits from the public by making false promises of investment in the stock market and assuring investors of unusually high and guaranteed returns. The accused later cheated the depositors, according to the CBI.

The Central Bureau of Investigation (CBI) registered the case on October 25, 2024. After completing its investigation, the agency filed a chargesheet against Md. Shakir on March 28, 2026.

The court convicted Shakir on August 31, 2026, after the completion of the trial. He was sentenced on September 7 to four years of rigorous imprisonment along with a fine of Rs. 14.05 lakh.

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Vanshika verma

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Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.