CBI arrests absconding scamster Mintu Das in multi-crore trading fraud case in Delhi

Guwahati, Dec 5: The Central Bureau of Investigation (CBI) has arrested Mintu Das, alias Rohit Chandra Das, proprietor of the Indian Institute of Banking & Information Technology (IIBIT), Guwahati, from Delhi. Mantu Das, an accused in the case related to trading scams, has been absconding for long.

Based on the allegations, an FIR was registered under Sections 120B, 406, and 420 of the Indian Penal Code and sections of the Banning of Unregulated Deposit Schemes Act, 2019. Subsequently, at the request of the Assam Government, the CBI re-registered the case and initiated an extensive investigation. The FIR alleged that victims had invested substantial amounts of money after being lured by advertisements placed by IIBIT in newspapers.

Mintu Das had assured them that their investments would be placed in the stock market, promising substantial dividends. However, after paying minimal dividends initially, he ceased payments and failed to return the deposited amounts. Furthermore, the accused absconded in January 2024 after committing the alleged offence.

The investigation has revealed that Mintu Das had issued advertisements in newspapers, encouraging potential investors to contact him, promising substantial returns from stock market investments without risks. Several deposits were received from investors across Assam and other states, with no intention to deliver on the promised dividends or return the principal amounts. The accused also allegedly issued threats to complainants who sought legal remedies to recover their investments.

The arrested accused is being brought to Assam on transit remand and will be produced before a court.

By-

Staff Reporter