GUWAHATI: The Central Bureau of Investigation has filed five more chargesheets against 18 individuals and two companies about the Assam investment scams, bringing the total number of chargesheets to nine.
He allegedly attracted investors by promising them exaggerated returns, sometimes up to 15% annually. The fraudulent schemes were accompanied by other devious tactics, such as notarized loan agreements and the appearance of legitimacy through cooperative societies. Instead of delivering on their promises, however, the funds were allegedly misappropriated, leaving investors empty-handed.
One of the culprits, Hemen Rava, is reportedly inducing people to sign loan agreements with the promise of high returns and diverting the collected amount for their personal use. Another key case is that of Brahmaputra Sanchay & Biniyog Cooperative Society Ltd (BSBCSL), in which ex-chairman Jiten Deka and others are reported to have misused the "Grihalakshmi" scheme and diverted deposits.
Similarly, individuals such as Mainao Brahma, Dipankar Bhatta, Jyotisman Sarma, and Sumit Barman are accused of operating unregulated deposit schemes, collecting funds under pretenses, and using the money for personal benefit. Another is Rishiraj Gogoi and Joy Modak, who are from Go Millions LLP. He allegedly collected deposits in the name of running a cosmetics company but did not invest the money as promised.
Another group is Sankar Kumar Biswas, Rofiqul Islam, Dinesh Ch. Ray, and Niranjan Kumar Malakar, allegedly collected investments in the name of Titan Capital Market and failed to honor their commitments to the investors.
Through investigations and recoveries of the fraudster's databases, these activities were brought to light. The accused named in all chargesheets is already behind bars in judicial custody. Such decisive steps taken by CBI point towards its efforts to put up a stern fight against financial fraudsters who dupe investor interests.
The strong message conveyed to fraudsters in financial dealings goes on to make the need for greater caution and due diligence necessary for any form of investment opportunities.
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