Guwahati, Dec 16: The Central Bureau of Investigation (CBI) has ramped up its crackdown on online trading frauds, filing chargesheets against 18 individuals and two organizations in separate cases related to financial scams. The accused include 16 private individuals and two entities—Upepithets Holdings Pvt. Ltd. (UHPL) and Brahmaputra Sanchay & Biniyog Cooperative Society Ltd. (BSBCSL). These cases are part of a broader investigation by the CBI’s Guwahati branch into financial irregularities violating RBI and SEBI regulations.

In one of the key cases, the CBI filed a charge sheet against three accused—Hemen Rava, director of Upepithets Holdings Pvt. Ltd., Sankar Saha, a manager, and the company itself—before the Special CBI Court in case RC 16E/2024. The charges were filed after a re-registration of the case by CBI Guwahati on October 22. The case stems from an earlier investigation initiated by Tezpur Police under FIR No. 533/2024, where Rava was accused of running a financial scam by persuading the public to enter notarized loan agreements, promising high returns. Investigations revealed that Rava and his company misappropriated the funds for personal gains, deceiving investors.

In a related case, another chargesheet was filed against five accused, including four private individuals and the Brahmaputra Sanchay & Biniyog Cooperative Society Ltd. The investigation exposed how the accused, including Jiten Deka, the then chairman, Indrani Das, branch manager, and others, operated an unregulated deposit scheme called “Grihalakshmi,” promising high returns on investments. They falsely lured investors, misappropriated funds, and diverted them for personal use.

The CBI also filed chargesheets in three additional cases involving other fraudulent schemes. In RC 7E/2024, four individuals were accused of running an unregulated deposit scheme in Baksa district, diverting public funds into personal accounts. In RC 6E/2024, Rishiraj Gogoi and Joy Modak were charged with operating a fraudulent stock trading business under the guise of a cosmetic company, promising high returns and violating SEBI and RBI guidelines. The final chargesheet, RC 18E/2024, involved Sankar Kumar Biswas and others, who fraudulently collected investments for a scheme called Titan Capital Market without depositing the funds into any regulated investment schemes.

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