Guwahati, Feb 8 (IANS) The Central Bureau of Investigation (CBI) has filed the final chargesheet at a court here against the prime accused Gopal Paul and some other co-accused in connection with a multi-crore ponzi scam case, an official said on Friday.
Paul was accused in M/s. AJRS Ponzi scam that was unearthed a few months ago and the scam amounts to more than Rs 5 crore.
The central probe agency submitted the final chargesheet within 90 days of the arrest of accused who is currently in judicial custody.
An official statement mentioned: "The case was registered by CBI on 14.10.2024, following a request from the Government of Assam. CBI took over the case from Dispur Police Station, Guwahati, where it was initially registered on 12.08.2024 against M/s. AJRS Marketing Pvt. Ltd. (Director: Gopal Paul). The complaint alleged that the company engaged in illegal trading activities without requisite approvals from the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India."
Reports of fraudulent trading apps and Ponzi schemes in Assam had raised serious concerns, with multiple entities deceiving the public through promises of high returns, resulting in losses amounting to crores of rupees.
"The CBI investigation has established that Gopal Paul, in collusion with co-accused Biswanath Roy, Mridul Dutta, and others, orchestrated a Ponzi scheme to fraudulently collect funds from investors. Under the guise of legitimate business operations, multiple firms were floated, including M/s. AJRS Marketing Pvt. Ltd.; M/s. AJRS Management Securities (OPC) Pvt. Ltd. and GSPAUL Marketing LLP,” the statement added.
According to an official release of CBI, these entities operated under brand names such as AyurvedLife and AJRS Trading, falsely claiming to deal in Ayurvedic health care products like oils, creams, and aloe vera-based items.
"However, the investigation revealed that no such business activities existed, and these firms were primarily engaged in soliciting deposits from the public under misleading assurances of high fixed returns,” it said.
To further the fraudulent scheme, two websites www.ayurvedlife.org and www.ayurvedlife.in were used to attract investors.
The total amount misappropriated by accused Gopal Paul and his associates has been estimated at approximately Rs. 5.14 crores.
After siphoning off investor funds, Gopal Paul absconded and was subsequently arrested by the CBI from Siliguri in November last year.
Meanwhile, chargesheets have already been filed against Biswanath Roy and Mridul Dutta, who are currently facing trial.
