Synopsis
The CBI has filed a final chargesheet against Gopal Paul and co-accused in a ponzi scam in Assam, involving over Rs 5 crore. The case involved fraudulent trading practices and misleading investor promises.Key Takeaways
- Final chargesheet filed by CBI
- Gopal Paul is the main accused
- Multi-crore ponzi scam exceeding Rs 5 crore
- Fraudulent trading practices reported
- Investigator’s findings reveal misleading promises to investors
Guwahati, Feb 8 (NationPress) The Central Bureau of Investigation (CBI) has submitted the final chargesheet in court against the main suspect Gopal Paul and several co-defendants related to a multi-crore ponzi scam, as confirmed by an official on Friday.
Paul is implicated in the M/s. AJRS Ponzi scam that was exposed a few months prior, with the total scam amount exceeding Rs 5 crore.
The investigation agency presented the final chargesheet within 90 days post the arrest of the accused, who is currently in judicial custody.
An official statement highlighted: "The case was initiated by the CBI on 14.10.2024, upon a request from the Government of Assam. The CBI took over the investigation from Dispur Police Station, Guwahati, where the case was initially recorded on 12.08.2024 against M/s. AJRS Marketing Pvt. Ltd. (Director: Gopal Paul). The complaint alleged that the company conducted illegal trading activities lacking necessary approvals from the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India.
Concerns about fraudulent trading applications and ponzi schemes in Assam have escalated, with numerous entities misleading the public with promises of significant returns, leading to losses amounting to crores of rupees.
"The CBI investigation confirmed that Gopal Paul, in collaboration with co-defendants Biswanath Roy, Mridul Dutta, and others, orchestrated a ponzi scheme to unlawfully extract funds from investors. Under the pretense of legitimate business activities, several companies were established, including M/s. AJRS Marketing Pvt. Ltd.; M/s. AJRS Management Securities (OPC) Pvt. Ltd. and GSPAUL Marketing LLP," the statement continued.
According to a CBI official announcement, these companies operated under brand names like AyurvedLife and AJRS Trading, falsely purporting to deal in Ayurvedic health products such as oils, creams, and aloe vera items.
"However, the investigation uncovered that no actual business operations took place, and these companies primarily engaged in collecting deposits from the public under misleading promises of high fixed returns," it added.
As part of the fraudulent strategy, two websites www.ayurvedlife.org and www.ayurvedlife.in were utilized to lure investors.
The total funds misappropriated by Gopal Paul and his accomplices have been estimated at around Rs. 5.14 crores.
After misappropriating investor funds, Gopal Paul fled and was later apprehended by the CBI in Siliguri in November of the previous year.
Meanwhile, chargesheets have already been filed against Biswanath Roy and Mridul Dutta, who are currently undergoing trial.
