State vs Saji P Sam — Tharayil Finance deposit fraud case

Updates

1. News23 Oct 2026

   9 years imprisonment for the prime accused in the Pathanamthitta Tharayil Finance fraud; first verdict under the Banning of Unregulated Deposit Schemes (BUDS) Act.

   9 years imprisonment for the prime accused in the Tharayil Finance fraud; first verdict under the BUDS Act in Pathanamthitta district.

   Explanation in simple terms

   What:

   The prime accused received a prison sentence for a deposit fraud case.

   Who:

   The accused is Saji P Sam, and the Pathanamthitta Additional District and Sessions Court delivered the verdict.

   When:

   Reported on 23 Oct 2026.

   Where:

   Pathanamthitta, Kerala, at the Additional District and Sessions Court.

   Why:

   The court convicted the individual under the Banning of Unregulated Deposit Schemes Act for running a fraudulent scheme.

   What it means:

   This is the first time a verdict has been reached under this specific law regarding deposit schemes.

   Asianet News
2. News23 Oct 2026

   Keralam: Tharayil Finance owner gets 9 years’ RI in deposit fraud case

   Pathanamthitta (Keralam), Oct 23 (PTI) The owner of Tharayil Finance was sentenced to nine years of rigorous imprisonment and fined Rs 3 lakh by a court here in a deposit fraud case. ]

   Explanation in simple terms

   What:

   The court sentenced the owner of a financial firm to nine years of rigorous imprisonment for fraud.

   Who:

   Saji P Sam is the accused owner of Tharayil Finance, and the Pathanamthitta Additional District and Sessions Court passed the order.

   When:

   Reported on 23 Oct 2026.

   Where:

   Pathanamthitta Additional District and Sessions Court, Kerala.

   Why:

   The court found him guilty of cheating people who invested their savings in his financial firm.

   What it means:

   The legal case is concluded as the court has delivered its final punishment to the owner.

   The Print