Itanagar: The Capital police in Arunachal Pradesh has arrested the kingpin of a Ponzi scheme scam, who had duped some 6,000 investors of an estimated ₹17 crore.
The police arrested Braj Kishore Chaudhury from Patna, Bihar, on February 23 and his accomplices, identified as Raju Dutta, Nishith Murthy, Joydeep Dutta, Santosh Kumar, Bipin Kumar and Deepak Kar aka BK Sharma.
Addressing media persons at his office near here, SP Jimmy Chiram said it took the police almost a year to arrest the kingpin. He said the arrest was not easy as the accused was hiding in multiple locations within the country and the police had to travel to other states.
Chiram said the Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
“In 2021, Raju Dutta offered one Ha Takio a scheme to invest his money in share market through a company named Algo Academy. An FIR was registered after Takio was duped,” he said, adding that the case pertains to a multi-level marketing scheme from August 2020 to March 2021.
He said, responding to the FIR, the police arrested four persons from across the country through technical surveillance.
“The initial charge-sheet was filed in 2021. However, with the arrest of the kingpin, the Capital police filed a supplementary charge-sheet and the investigation is being carried out for any other involvements,” he added. He…