India News | CBI Arrests Absconder Wanted in Assam Ponzi Scheme Case from Kolkata
Get latest articles and stories on India at LatestLY. The CBI has arrested an absconder, wanted in a Ponzi scheme case in Assam where he had allegedly swindled a large amount of money from gullible investors on the promise of lucrative returns, from West Bengal's Kolkata, officials on Thursday said.
New Delhi, Jul 31 (PTI) The CBI has arrested an absconder, wanted in a Ponzi scheme case in Assam where he had allegedly swindled a large amount of money from gullible investors on the promise of lucrative returns, from West Bengal's Kolkata, officials on Thursday said.
Ajay Kumar alias Raju Gupta, who was a director of Idol India Group of Companies, ran different schemes under the name and style “Idol India Infrastructure Ltd., Idol India Debenture Trust, Idol India Projects Ltd.” and collected money from people of Assam by promising to return interest and allegedly misappropriated the same.
The agency had taken over the investigation on the Supreme Court's orders dated May 9, 2014.
Eight years later, the CBI had filed a charge sheet on December 22, 2022 against Kumar and others before the Special Judge, CBI, Guwahati.
Kumar remained absconding and evading his arrest for many years, a CBI spokesperson said in a statement.
"Substantial efforts were made by the CBI team to trace his present whereabouts in Kolkata, leading to his arrest on Wednesday. The arrested accused was produced before Chief Judicial Magistrate, North 24 Parganas at Barasat, Kolkata, West Bengal, who granted his transit remand," the spokesperson added.
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