Guwahati: Chandan Das, the former MD of the Jeevan Suraksha Group of Companies has a supplemental charge sheet issued against him by the Central Bureau of Investigation (CBI).
Former Executive Chairman Arjoo Acharjee, General Manager Uttam Acharjee and the company’s directors Ashok Chakrabarty and Sangita Das have all been charged in the case.
According to the charge sheet, all of the individuals charged stole $245 million from investors through ponzi schemes.
The CBI claimed that its seven-year investigation had revealed that the accused had amassed significant amounts of public funds in the form of deposits by issuing certificates to large investors in violation of the Companies Act and SEBI (CIS) regulations. The CBI’s supplementary charge sheet was recently filed before Additional Chief Judicial Magistrate of Kamrup district.
According to the report, the accused executives of the Jeevan Suraksha Group, who are based in Assam and Nagaland, reportedly intentionally transferred funds from naive investors to invest in loss-making subsidiaries of the group companies.
The CBI claimed that the accused “was also discovered to have allegedly diverted Rs 81.65 crore (approx) from the fund-raising business to the non-functional company and by doing so misappropriated the amount of Rs 245.16 crore (approx) of the investors and also defrauded the investors.”
It may be mentioned that on December 13, 2013, the Assam Police submitted a charge sheet and on March 25, 2019, the CBI filed a supplementary charge sheet.