Central Bureau of Investigation (CBI) has officially filed a chargesheet against two primary accused, Biswanath Roy and Mridul Dutta, in infamous Assam Ponzi Scam. This development comes as CBI intensifies its probe into a case that has shaken investor confidence across state. chargesheet was submitted before Special CBI Court in Guwahati within mandatory 90-day period following arrests of accused. Both individuals remain in judicial custody as investigation unfolds.
Case Registration and Background
CBI took over investigation on October 14, 2024, registering it as RC 221/2024/E0018. This followed a formal request by Government of Assam, transferring case from Dispur Police Station to central investigative agency. At heart of scam lies AJRS Marketing Pvt. Ltd., a company accused of running unregulated deposit schemes under trade names “Ayurvedlife” and “AJRS Trading.”
company reportedly promised high returns on investments, exploiting regulatory loopholes and operating without approval from Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI). illegal activities resulted in financial losses totaling Rs 5.14 crore, affecting approximately 2,600 victims, primarily from Assam.
Scam Modus Operandi
chargesheet details systematic approach adopted by AJRS Marketing Pvt. Ltd. to defraud investors:
- High Return Promises: Investors were lured with promises of doubling their deposits within 200 days. Additional incentives such as luxury items, vehicles, and even foreign trips were offered.
- Multi-Level Marketing (MLM) Structure: Investors were encouraged to recruit others into scheme to earn commissions, creating a pyramid-style system.
- Digital Outreach: Promotional material was disseminated through platforms like WhatsApp, making scam accessible and appealing to a broader audience.
- Investor Meetings: accused conducted numerous promotional meetings to build trust and attract substantial investments.
Key Charges
chargesheet filed against Biswanath Roy and Mridul Dutta includes several serious offences:
- Indian Penal Code (IPC):
- Section 120B: Criminal conspiracy.
- Section 409: Criminal breach of trust.
- Section 420: Cheating.
- Banning of Unregulated Deposit Schemes (BUDS) Act, 2019:
- Sections 25, 21(1), 21(2), and 21(3), read with Section 23.
BUDS Act was specifically designed to address fraudulent schemes like one operated by AJRS Marketing Pvt. Ltd. Its invocation highlights systemic exploitation that accused orchestrated.
Arrests and Judicial Custody
While Biswanath Roy and Mridul Dutta are primary accused, investigation has also brought to light involvement of other individuals. One such individual is Gopal Paul, a director of AJRS Marketing Pvt. Ltd., who was arrested on November 12, 2024, and remains in judicial custody. Investigators are probing his role in orchestrating fraudulent operations and identifying other potential accomplices.
Impacts of Scam
Assam Ponzi Scam has had widespread socio-economic ramifications:
- Financial Losses: Victims, many from economically weaker backgrounds, have been left financially devastated.
- Investor Confidence: Trust in investment schemes and financial institutions has been significantly eroded in affected regions.
- Legal and Regulatory Actions: scam underscores need for stringent regulatory oversight of financial schemes to prevent similar incidents in future.
Government and CBI Response
Government of Assam has lauded CBI for its swift action and comprehensive investigation. Labour Secretary Sumita Dawra emphasized government’s commitment to ensuring justice for victims and preventing similar scams through enhanced regulatory measures. CBI has assured public that investigation will extend to uncover all accomplices and ensure recovery of defrauded funds.
Key Details at a Glance
| Aspect | Details |
| Case Registered | October 14, 2024 (RC 221/2024/E0018) |
| Primary Accused | Biswanath Roy, Mridul Dutta |
| Company Involved | AJRS Marketing Pvt. Ltd. |
| Amount Defrauded | Rs 5.14 crore |
| Victims | Approximately 2,600 investors, primarily from Assam |
| Key Offences | Sections 120B, 409, 420 (IPC) and Sections 25, 21(1), 21(2), 21(3) under BUDS Act |
| Additional Arrests | Gopal Paul (November 12, 2024) |
| Next Steps | Further investigation to identify accomplices and recover funds |
Ongoing Investigations
CBI continues to investigate:
- extent of scam, including its financial and operational scope.
- role of additional individuals who may have facilitated or benefitted from scheme.
- Pathways for recovering stolen funds to compensate victims.
Conclusion
Assam Ponzi Scam represents a stark reminder of dangers posed by unregulated financial schemes. CBI’s chargesheet against Biswanath Roy and Mridul Dutta is a significant step in addressing scam and restoring justice for victims. As investigation progresses, it is expected to bring greater clarity to scale of fraud and ensure stringent actions against all involved.
Disclaimer
This article is based on publicly available information and official reports. While every effort has been made to ensure accuracy, readers are encouraged to verify details independently. content is for informational purposes only and should not be considered as legal or financial advice.
