CBI Files Five Chargesheets in Multi-Crore Investment Scam

The CBI has filed five chargesheets in cases related to an investment scam where thousands were defrauded. Sixteen individuals and two organizations—M/s Upepithets Holdings Pvt. Ltd (UHPL) and Brahmaputra Sanchay & Biniyog Cooperative Society Ltd (BSBCSL)—were named.

Key allegations include:

1. UHPL: Director Hemen Rava and manager Sankar Saha misused public funds collected through false promises of high monthly returns (6%+).
2. BSBCSL: Promised up to 15% annual returns under the “Grihalakshmi” scheme, later misappropriating funds.
3. Other accused ran fraudulent deposit schemes or misused investor funds for personal gains, including property purchases.

The CBI continues investigating these unregulated schemes while tracing details of defrauded depositors.