The Central Bureau of Investigation (CBI) has filed a supplementary charge sheet against Chandan Das, the former MD of Jeevan Suraksha Group of Companies.
Former Executive Chairman Arjoo Acharjee, General Manager Uttam Acharjee and directors Ashok Chakrabarty and Sangita Das of the company have also been charged in the case.
All the persons named in the charge sheet have allegedly siphoned off Rs 245 crore of investors' funds through ponzi schemes.
In its supplementary charge sheet filed before Additional Chief Judicial Magistrate of Kamrup district recently, the CBI alleged that its seven years of probe had shown that the accused collected huge public funds in the form of deposits by issuing certificates to big investors in violation of Companies Act and SEBI (CIS) regulations.
It said that the accused executives of the Jeevan Suraksha Group based in Nagaland and Assam, allegedly diverted investments from gullible investors in loss-making entities of the group companies knowingly.
"It was also found that the accused had allegedly diverted Rs 81.65 crore (approx) from the fund raising company to the non-functional company and thereby misappropriated the amount of Rs 245.16 crore (approx) of the investors, and also cheated the investors," the CBI alleged.
The Assam Police filed a charge sheet on December 13, 2013 and the CBI filed the supplementary charge sheet on March 25, 2019.