Assam: Proprietor of Guwahati-based firm in CBI net in online trading ponzi scam case

The CBI has arrested the proprietor of Guwahati-based Indian Institute of Banking & Information Technology (IIBIT) in Assam's online trading ponzi scam case for allegedly luring people to invest in his scheme, officials said Wednesday.

Mintu Das alias Rohit Chandra Das, who was absconding since long, was arrested in Delhi in an operation on Tuesday, the CBI said in a statement.

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. 

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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.