CBI Files Chargesheet Against 2 Accused In Assam Ponzi Scam

The Central Bureau of Investigation (CBI) filed a chargesheet against Biswanath Roy and Mridul Dutta in connection with one of the Assam Ponzi Scam cases. The chargesheet was submitted before the Special CBI Court in Guwahati within 90 days of the arrest of the accused, who are currently in judicial custody.

The CBI registered the case on October 14, 2024, under RC 221/2024/E0018, following a request by the Government of Assam to take over the investigation initially lodged by Dispur Police Station. The case involves AJRS Marketing Pvt. Ltd., which allegedly conducted illegal trading activities without requisite approvals from the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). The company reportedly defrauded investors through unregulated schemes, causing financial losses amounting to Rs 5.14 crore and affecting approximately 2,600 victims, primarily in Assam.

The investigation revealed that AJRS Marketing Pvt. Ltd. operated a multi-level deposit scheme under the trade names “Ayurvedlife” and “AJRS Trading,” luring investors with promises of high returns and incentives, including bikes, cars, and foreign trips. Biswanath Roy and Mridul Dutta allegedly promoted these unregulated deposit schemes, conducting meetings with potential investors and circulating promotional materials through WhatsApp. They reportedly promised investors a doubling of deposits within 200 days and encouraged them to recruit others into a multi-level marketing (MLM) structure to earn commissions.

The chargesheet cites multiple offences, including Section 120B of the Indian Penal Code (IPC) for criminal conspiracy, Sections 409 and 420 of the IPC for criminal breach of trust and cheating, and Sections 25, 21(1), 21(2), and 21(3) read with Section 23 of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019.

Additionally, the investigation is ongoing to ascertain the roles of other accused, including Gopal Paul, Director of AJRS Marketing Pvt. Ltd., who was arrested on November 12, 2024, and is also in judicial custody.

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