CBI Pursues Assam Ponzi Scams: Five Additional Charge Sheets Filed

New Delhi, Dec 16 (NationPress) In a decisive move regarding the Assam ponzi scam investigations, the CBI has submitted five additional charge sheets across five distinct cases targeting 18 defendants, which includes two corporate entities, as reported by an official on Monday.

Among the accused are 16 individuals along with two companies - Upepithets Holdings Pvt. Ltd (UHPL) and Brahmaputra Sanchay & Biniyog Cooperative Society Ltd (BSBCSL) - which were also implicated in the charge sheets submitted to the Special CBI Court in Guwahati.

The five charge sheets from the CBI in Guwahati supplement four others filed by the CBI in Delhi that are concurrently examining the Assam Ponzi Investment Scam.

One notable charge sheet identifies three defendants, comprising two individuals and a private entity.

This case forms part of the broader Assam investment scam investigations initiated by the CBI at the behest of the Assam government.

Prior to the CBI taking over, the case was initially registered by the Tezpur Police Station in Assam on September 4 against the accused Hemen Rava, who allegedly participated in a financial fraud violating RBI/SEBI regulations.

Accusations suggest that he enticed the public into signing notarized loan agreements with promises of lucrative investment returns. He is alleged to have misappropriated the funds for personal benefit, thereby defrauding his clients, according to the CBI.

The CBI's investigation has revealed that the perpetrators were involved in orchestrating an illicit deposit scheme that solicited investments under false pretenses.

They employed misleading tactics, including notarized stamp papers, to attract investors with assurances of guaranteed monthly returns exceeding 6 percent.

Another charge sheet has been filed against five individuals, which includes four private citizens and Brahmaputra Sanchay & Biniyog Cooperative Society Ltd.

Other implicated parties include Jiten Deka, the former chairman, Indrani Das, branch manager of the Azara Branch, Sanjib Deka, secretary, and Himangshu Talukdar, chairman of the Society.

This case revolves around deposits gathered by the cooperative under a scheme named “Grihalakshmi”.

Investors were reportedly attracted by promises of significant returns in the form of bonuses or interest.

Subsequently, the accused allegedly misappropriated these deposits.

The investigation uncovered that Jiten Deka and others promoted an unregulated deposit scheme, falsely advertising returns as high as 15 percent annually.

Jiten Deka and associates solicited agents and investors for this unregulated scheme, offering commissions ranging from 4 to 7 percent on the deposited amounts.

In a different case, the CBI has filed a charge sheet against four individuals: Mainao Brahma, Dipankar Bhatta, Jyotisman Sarma, and Sumit Barman at the Special CBI Court.

The defendants allegedly conspired to operate an unregulated deposit scheme with the goal of defrauding the public and subsequently diverting or misappropriating the funds.

All accused individuals are currently in judicial custody.

The CBI has also filed charges against two individuals - Rishiraj Gogoi and Joy Modak - at the Special CBI Court in Guwahati, both of whom remain in custody.

The charge sheet indicates that the accused were engaged in stock trading activities under the pretense of their company, Go Millions LLP, which was ostensibly set up to sell various cosmetic products.

They allegedly enticed the public to invest funds with promises of high returns, breaching SEBI/RBI guidelines and defrauding the public through fund misappropriation.

The investigation confirmed that Gogoi and Modak conspired to collect deposits from the public through business operations using UPI and bank accounts but failed to invest the amounts in any regulated deposit schemes. All accused remain in judicial custody.

Additionally, the CBI has charged four individuals - Sankar Kumar Biswas, Rofiqul Islam, Dinesh Ch. Ray, and Niranjan Kumar Malakar - at the Special CBI Court in Guwahati.

This case was re-registered by the CBI after taking over from investigations conducted by the Dhubri Police Station.

The inquiry revealed that the accused collected investments under the guise of Titan Capital Market and failed to deposit, invest, or trade the funds received from various depositors in any regulated schemes.

They fraudulently collected money from depositors for investments and did not return the funds, as stated by the CBI.

Throughout the investigation, the CBI successfully located databases containing information about depositors who were misled into investing in these unregulated schemes.