Assam: CBI files chargesheet in Guwahati chit fund case

Assam: CBI file chargesheet in Guwahati Chit Fund Case

New Delhi: The CBI has filed a supplementary charge sheet against Chandan Das, former MD of Jeevan Suraksha Group, which allegedly siphoned off Rs 245 crore of investors’ funds through ponzi schemes in Assam.

CBI announced Friday that Arjoo Acharjee was the former Executive Chairman, Uttam Acharjee was General Manager, and Sangita Das of Jeevan Suraksha Group of Companies were also charged.

In its supplementary charge sheet filed before Additional Chief Judicial Magistrate, Kamrup (Guwahati) recently, the  CBI alleged that its seven years of probe had shown that the accused collected huge public funds in the form of deposits by issuing certificates to big investors in violation of Companies Act and SEBI (CIS) regulations.

The Jeevan Suraksha Group companies, located in Nagaland and Assam allegedly diverted funds from gullible investors to loss-making entity of the group companies.

“It was also found that the accused had allegedly diverted Rs 81.65 crore (approx) from the fund raising company to the non-functional company and thereby misappropriated the amount of Rs 245.16 crore (approx) of the investors, and also cheated the investors,” the CBI alleged.

On December 24, 2015, the Assam government had referred the case to the probe agency. The agency then took over the investigation from state police.

“Earlier, the state police filed a charge sheet on December 13, 2013, and the CBI filed the supplementary charge sheet on March 25, 2019,” the CBI spokesperson said.

After the Supreme Court’s order on WP (C), No. 401/2013 & WP (C) No. 413/2013.