Bureau of Investigation Arrested 3 for defrauding investors of 1 Crore

A non-banking financial company, which had defrauded investors of over Rs 1 crore in the period 2019-2022, was busted here on Friday and the CEO and two staffers were arrested by the Bureau of Investigation (Economic Offences).

The arrested are Banamali Hazarika (32) from Nalbari, Rajat Das (39) from Guwahati and Rinku Saikia (27) from Sivasagar. Hazarika is the CEO of the company called ‘Yess Money’, located in the Kahilipara area of the city, while Das is the branch manager and Saikia is the personal assistant of the CEO.

They have been booked under charges of criminal conspiracy, cheating and criminal breach of trust under the Indian Penal Code along with various sections of the Prize Chits and Money Circulation Schemes (Banning) Act and Assam Protection of Interests of Depositors (in Financial Establishments) (Amendment) Act for allegedly defrauding people.

BoI (EO) SP, Rup Kishore Handique, said, “The staff of the company used to target common people and lure them with high profits against their investments. The complainants and others had deposited money expecting high returns but they alleged they have not received their money and interest.”