Guwahati: CBI files Charge sheet against two accused in Assam Ponzi Scam cases before Special CBI Court

New Delhi [India], December 11 : The Central Bureau of Investigation (CBI) on Wednesday filed a charge sheet before the CBI Court in Guwahati against two accused in the Assam Ponzi Scam cases, according to a press statement from the CBI.
The case pertains to a multi-level deposit scheme involving deposits collected under the trade names "Ayurvedlife" and "AJRS Trading." Investors were allegedly lured with promises of substantial returns and incentives such as bikes, cars, and foreign trips upon reaching specific investment thresholds.
Subsequently, the deposits were allegedly misappropriated, causing a total fraud of approximately Rs 5.14 crore and affecting around 2,600 victims, primarily from Assam.
The charge sheet was filed within 90 days of the arrest of the two accused identified as Biswanath Roy and Mridul Dutta, both of whom are currently in judicial custody.
The CBI registered a case on October 14, 2024, at the request of the Assam Government, taking over the investigation of the case originally filed by the Dispur Police Station in Assam against AJRS Marketing Pvt. Ltd., said the statement further.
The complaint alleges that AJRS Marketing Pvt. Ltd. was engaged in illegal trading activities without the requisite permissions from the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).
The complaint further alleged a surge in fraudulent trading apps and companies operating in Assam, which misled the public with promises of high returns. The entities allegedly swindled crores of rupees from investors, causing significant financial harm, according to the statement.
It was revealed during the investigation that accused Biswanath Roy and Mridul Dutta marketed and promoted the unregulated deposit scheme of AJRS. They participated in various meetings with potential depositors and presented the non-existing business model by providing the brochures of Ayurvedlife, AJRS Trading, and AJRS Group to depositors through digital mode of communication i.e. WhatsApp group and WhatsApp chat with individuals which allured potential depositors to deposit a large sum of their hard-earned money.
Both made false promises to depositors to double their deposit in 200 days through the unregulated deposit schemes. Both accused solicited members to the multi-level marketing (MLM) structure of the unregulated deposit schemes where each participant had to recruit others to earn commission on the deposits of other members. The duo recruited members under them and made them deposit a large sum of amount in the company.
Further investigation is continuing to examine the roles of other accused including Gopal Paul, and associated companies. It is pertinent to note that the accused Gopal Paul, Director of M/s. AJRS Marketing Private Limited was also arrested by CBI in this case on November 12 and is presently under judicial custody.