CBI files another chargesheet against Trading FX’s prime accused Ranjit Kakoty

Syllad | The Rising MeghalayaNovember 29, 2024

Guwahati, Nov 29: The Central Bureau of Investigation (CBI) has filed a chargesheet against Ranjit Kakoty in connection with the fraudulent online forex trading platform Trading FX Live. Kakoty, who acted as both an agent and an investor, is accused of defrauding investors by promising high returns on investments without obtaining required approvals from the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI).

The scam, valued at Rs 260 crore, has affected approximately 1.5 lakh investors. The CBI, despite the case’s complexities, completed its probe into Kakoty’s role within 90 days of his arrest and submitted the chargesheet to the Special CBI Court in Guwahati. However, the top officials behind the scam remain at large.

CBI investigations revealed that Kakoty and his co-conspirators lured investors using misleading plan documents and false promises of threefold returns within 18 months, only to misappropriate the funds for personal gains. Advanced forensic tools helped identify victims and uncover evidence, including databases containing depositor information.

This case, originally registered at Dibrugarh Police Station, is one of 41 online trading frauds being investigated by the CBI following a request by the Assam government. The agency has conducted searches across 93 locations in five states and union territories, seizing electronic evidence such as mobile phones, desktops, and laptops.

The investigation is ongoing, with efforts underway to identify additional conspirators and recover stolen funds.

CBI Chargesheets Four in Related Financial Scam Case.

In a parallel case (RC17E2024), the CBI filed chargesheets against Bishal Phukan, Abhijit Chanda, Sumi Bora, and Tapon @ Tarkik Bora for orchestrating an unregulated deposit scheme. These individuals allegedly used falsified investment reports and notarized documents to promise investors 30% returns, in violation of RBI and SEBI regulations.

Instead of fulfilling these promises, they diverted investor funds for personal enrichment. The case, originally registered at Dibrugarh Police Station, is part of a broader CBI effort targeting fraudulent financial schemes.

Chargesheet Against Monalisa Das in DB Stock Consultancy Case

The CBI also filed a chargesheet against Monalisa Das on November 18 for her role in a financial scam linked to DB Stock Consultancy, co-owned with Deepankar Barman. This organization, along with 7-8 employees, defrauded numerous clients across India by misrepresenting investment opportunities.

In a related development, Gopal Paul, the main accused in a case involving AJRS Marketing Pvt. Ltd., was apprehended in Siliguri after evading authorities. Evidence linked to the scam was recovered during his arrest.

Meanwhile, Sumi Bora, also implicated in this case, remains in judicial custody following the rejection of her bail plea by the Special Judge for CBI Cases in Guwahati on November 19.

The CBI continues its investigations into these cases, working to identify additional culprits and uncover the full extent of these conspiracies.