CBI arrests IIBIT proprietor Mintu Das in multi-state fraud case
Dec 04, 2024
New Delhi [India], December 4 : In a significant development, the Central Bureau of Investigation (CBI) has arrested Mintu Das, a long-absconding accused in a case involving fraudulent activities, from Delhi.
Das, the proprietor of the Indian Institute of Banking and Information Technology (IIBIT) in Guwahati, along with others, was arrested on Tuesday.
According to an official release, an FIR was registered under Sections 120B, 406, and 420 of the Indian Penal Code, along with Sections 21(1), 21(2), 21(3), and 23 of the Banning of Unregulated Deposit Schemes Act, 2019, under FIR No. 130/2024 dated September 4.
"Subsequently, on the request of the Assam Government, the CBI re-registered the case as RC-15/24, EO-III, on October 14 and initiated an extensive investigation," the release stated.
The FIR alleged that victims had invested substantial sums of money after being lured by advertisements placed by IIBIT in newspapers.
"Mintu Das had assured them that their investments would be placed in the stock market, promising substantial dividends. However, after paying minimal dividends initially, he ceased payments and failed to return the deposited amounts. Furthermore, the accused absconded in January 2024 after committing the alleged offence," the release added.
The investigation revealed that Das issued newspaper advertisements encouraging potential investors to contact him, promising substantial, risk-free returns from stock market investments. Several deposits were received from investors across Assam and other states, but there was no intention to deliver the promised dividends or return the principal amounts. The accused also allegedly threatened complainants who sought legal remedies to recover their investments.
The CBI's persistent efforts, including the analysis of digital evidence and inputs from reliable sources, led to Mintu Das's arrest. The accused is being taken to Assam on transit remand and will be produced before the competent court.
Further investigation is ongoing.
