Guwahati, Dec 11: The Central Bureau of Investigation (CBI) has filed a chargesheet against Biswanath Roy and Mridul Dutta in connection with an online trading fraud involving AJRS Marketing Pvt. Ltd here on Wednesday. The chargesheet was submitted to the Special CBI Court in Guwahati within 90 days of the arrest of the accused, who remains in judicial custody.
The case, registered by the CBI on October 14, under RC 221/2024/E0018, stemmed from a complaint initially filed at Dispur Police Station. The investigation revealed that AJRS Marketing Pvt. Ltd. was involved in illegal trading operations without obtaining necessary approvals from regulatory authorities like the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).
Fraudulent trading apps and unregulated companies such as AJRS Marketing Pvt. Ltd. allegedly misled thousands of investors in Assam by promising exorbitant returns on their investments. The fraud, which operated under the trade names Ayurvedlife and AJRS Trading, caused financial losses of approximately ₹5.14 crore, affecting around 2,600 investors.
The investigation highlighted that the accused marketed and promoted unregulated deposit schemes under AJRS Marketing Pvt. Ltd, used digital platforms, such as WhatsApp groups, to circulate deceptive brochures and lure potential investors, promised to double investments within 200 days and incentivized participation through offers like cars, bikes, and foreign trips and operated a multi-level marketing (MLM) model where participants were encouraged to recruit others, earning commissions on deposits made by new members.
Biswanath Roy and Mridul Dutta were central figures in the scheme, actively participating in promotional meetings and collecting substantial deposits from unsuspecting investors.
The chargesheet accuses Biswanath Roy and Mridul Dutta under multiple sections of the Indian Penal Code (IPC) and the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019. The charges include criminal conspiracy (Section 120B IPC), criminal breach of trust (Section 409 IPC), cheating (Section 420 IPC), violations of Sections 25, 21(1), 21(2), and 21(3) read with Section 23 of the BUDS Act.
The investigation is ongoing to ascertain the roles of other individuals, including Gopal Paul, Director of AJRS Marketing Pvt. Ltd., who was arrested on November 12, 2024, and is also under judicial custody.
