The Central Bureau of Investigation (CBI) has filed five chargesheets in Guwahati against 18 individuals and two companies involved in a massive online trading scam that duped thousands of investors in Assam by promising high returns, officials said on Monday.
The chargesheets detail allegations against 16 private individuals and two companies—Upepithets Holdings Pvt Ltd (UHPL) and Brahmaputra Sanchay and Biniyog Cooperative Society Ltd (BSBCSL)—for orchestrating fraudulent schemes targeting gullible depositors.
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In its chargesheet against UHPL, the CBI accused Director Hemen Rava and Manager Sankar Saha of operating a deceitful deposit scheme.
The duo allegedly used notarised stamp papers to mislead investors with promises of monthly returns exceeding six per cent. Instead of delivering on these promises, they misappropriated the collected funds for personal gain, the agency said.
The chargesheet against BSBCSL implicated its former chairmen Jiten Deka and Himangshu Talukdar, Branch Manager Indrani Das, and Secretary Sanjib Deka.
The group allegedly operated an unregulated deposit scheme named “Grihalakshmi”, which promised an annual return of 15 per cent along with bonuses. Investigators highlighted the absence of a viable business model behind the scheme, which resulted in significant financial losses for depositors.
The CBI filed additional chargesheets against Mainao Brahma, Dipankar Bhatta, Jyotisman Sarma, and Sumit Barman – who allegedly conspired to defraud the public by running an unregulated deposit scheme, diverting funds for personal use, and acquiring properties and vehicles. Rishiraj Gogoi and Joy Modak – were accused of collecting public deposits under the guise of running a stock trading business through their company, “Go Millions LLP”, which was ostensibly formed to sell cosmetics and other products. The funds were not deposited in any regulated scheme.
Sankar Kumar Biswas, Rofiqul Islam, Dinesh Ch Ray, and Niranjan Kumar Malakar – were charged with misappropriating funds collected through UPI payments, cash, and cheques for investments under the name “Titan Capital Market” without depositing them in a regulated scheme.
The CBI stated that it had successfully traced databases containing the details of depositors duped by these unregulated schemes. All the accused individuals named in the chargesheets are currently in judicial custody.
