News Desk. A person studying from IIT and IIM (IIM) who raised an empire of Rs 3500 crore on his own and has to go to jail today. Such a shocking case has come to light. By the way, we see many such examples where people travel from poverty to Amiri, but here we are going to tell you such a story that surprises everyone.

Who is CR Subramaniam
The person who is being talked here is CR Subramanian, who is the founder of Retail Chain Company Subhiksha and who has now been jailed for 20 years in the case of fraud. CR Subramaniam excelled in many fields including banking, business and engineering, but today he is behind bars of jail.

Found guilty of fraud
According to the court verdict given on 20 November 2023, CR. Subramaniam was found guilty of fraud with hundreds of investors by a special court and he was sentenced to 20 years by the court. Talking about CR Subramaniam, he took his first step in the business world by establishing the financial services company Vishwapriya in May 1991. His Uddam gained momentum with speed and attracted many investors. Vishwapriya launched several investment plans. Prime Invest, Asset Backd Security Bond, Liquid Plus, and Safety Plus got a lot of discussion. High returns were promised in these yojas.

From Vishwapriya to Subhiksha
According to the information revealed in the reports, 587 investors in Vishwapriya had invested more than Rs 137 crore. Most of the middle class people, small and retired employees were in the category of investors. Amidst all this, CR Subramaniam started a retail chain called Subhiksha in 1997. Subramaniam’s goal was that Sub -Shiksha became cheaper and convenient retail stores for the common people. Subramaniam’s retail chain spread rapidly in India and more than 1600 stores opened across the country. Not only this, the price of this company reached 3500 crores.

CR Subramaniam also received support from veteran investors like Azim Premji, ICIC Ventures and Kotak Mahindra Bank. But after this things changed and Subramaniam got caught in the trap of financial misconduct. His company used the money to investors suspicious and promised high returns that could not be fulfilled.

137 crores fraud
The case came to light in 2023 where he accepted a fraud of 137 crores. After this, he was jailed for 20 years and was also fined heavy. The court has imposed a fine of 8.92 crore on Subramaniam and a fine of 191.98 crore has been collectively imposed on the concerned institutions. Out of this fine, Rs 180 crore has been set for compensation to the affected depositors. 587 investments inaugurating in training are still waiting for their refunds.