The mastermind of the multi-crore Ponzi scheme crime, along with his accomplices, was arrested by the Capital Police, who fooled over 6000 investors in the Ponzi scheme with an estimated fraud amount of Rs 17 crore.Braj Kishore Chaudhary, the kingpin, was apprehended by police on February 23 in Patna, Bihar. Raju Dutta, Nishith Murthy, Joydeep Dutta, Santosh Kumar, Bipin Kumar, and Deepak Kar alias BK Sharma were identified as his accomplices.
SP Jimmy Chiram, speaking to the media at the Superintendent of Police's office close here, said the kingpin's capture took over a year. He said that the arrest was difficult since the suspect was hiding in numerous locations around the country, forcing police to go to other states.
He said that the kingpin was arrested with the cooperation of Bihar police after a thorough investigation, repeated efforts, and technical surveillance. According to Chiram, the scam is a type of fraud in which investors are lured in and gains are paid to earlier investors using monies from more recent investors.
"Raju Dutta gave Ha Takio the opportunity to invest his money in the stock market through a firm called 'Algoacademy' in the year 2021. He was later misled, and a FIR was filed as a result "He went on to say that the case involves a multi-level marketing plan that began in August 2020 and ended in March 2021. He said that in response to the FIR, the police used sophisticated monitoring to apprehend four people from across the country.
"In the year 2021, the first charge sheet was submitted. The Capital police have filed a supplemental charge sheet in connection with the arrest of the kingpin, BK Choudhary, and are investigating any further involvements " he Added. He said that thousands of accounts were opened from Arunachal Pradesh and a total investment of around Rs 17 crore was made. Out of this, around Rs 8 crore was returned, while Rs 9 crore was siphoned off.
The police was able to trace Rs 71 lakh which was routed to 14 different accounts by the perpetrators, which was later frozen. The investigation was complex as it involved website checking and bank details and use of fake IDs, he added."I urge the public to read documents properly before investing. If there is any doubt, please verify before investing. Police can't take suo moto action in such cases unless there is a written complaint," he said.
He also said the case could be solved only because of the intensive investigation by the police team led by Investigating Officer (IO) Inspector AK Pandey and Head Constable (HC) SK Jha and Nabam Sarbang, who extended technical support.