Guwahati: Assam Police’s Bureau of Investigation Economic Offenses (BIEO) said on Friday that widespread fraud in Guwahati is occurring under the pretence of doubling deposits.
Today, officials told a press conference that the scam is being run by a company called Yess Money.
Officials said, “Yess Money has looted several people in the name of doubling their deposits. They are functioning without any license from the Reserve Bank of India or SEBI.”
They further said, “The institution has collected about Rs 1 crore in the last year. They opened accounts in the name of students to rake in the money.”
Additionally, officials stated that the fraudulent company has been operating since 2019. However, BIEO has finally located Yess Money’s executive officer.
The corrupt official’s name was revealed to be Banmali Hazarika. Along with three other fraud firm employees, he was detained.
According to BIEO, Yess Money operated out of an office building in the Guwahati neighbourhood of Odalbakra. On Thursday, their office was searched, and during that time, several documents and laptops were seized, they added.
Rajat Das, the branch manager of Yess Money, was also detained by the investigating agency.
Additionally, officials reported that Rinku Saikia, Banmali Hazarika’s personal assistant, had also been detained.
According to officials, a financial fraud case with case number 30/22 has been filed against the company.