CBI Files Final Chargesheet Against Gopal Paul in M/s. AJRS Ponzi Scam in Assam, Fraud Amounting to ₹5.14 Crores

(Judicial Quest News Network)

Guhati,7, February,2025. The Central Bureau of Investigation (CBI) has filed the final chargesheet before the Special CBI Court in Guwahati against Gopal Paul, the mastermind behind the M/s. AJRS Ponzi scam in Assam. This chargesheet, submitted within 90 days of his arrest, marks a significant step in the ongoing investigation into the fraudulent activities of the Ponzi scheme.

The case was initially registered on 12th August 2024 at Dispur Police Station, Guwahati, and subsequently handed over to the CBI on 14th October 2024 following a request from the Government of Assam. The complaint alleged that M/s. AJRS Marketing Pvt. Ltd., led by Director Gopal Paul, was involved in illegal trading activities without the necessary approvals from the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).

The Ponzi scheme, operating under deceptive promises of high returns, defrauded investors across Assam, resulting in an estimated loss of ₹5.14 crores. The accused, Gopal Paul, in collaboration with co-conspirators Biswanath Roy and Mridul Dutta, created multiple entities including M/s. AJRS Marketing Pvt. Ltd., M/s. AJRS Management Securities (OPC) Pvt. Ltd., and GSPAUL Marketing LLP. These firms, using brands like AyurvedLife and AJRSTrading, falsely claimed to deal in Ayurvedic products, but in reality, they were solely focused on soliciting public deposits with misleading assurances of fixed high returns.

Two websites—www.ayurvedlife.org and www.ayurvedlife.in—were also used to lure investors into the fraudulent scheme. After amassing significant funds, Paul absconded with the investor’s money, only to be arrested by the CBI on 12th November 2024 in Siliguri, West Bengal.

Earlier chargesheets were filed against Biswanath Roy and Mridul Dutta, who are now facing trial. The latest chargesheet against Gopal Paul and his firms has been filed under various sections of the Indian Penal Code (IPC) and the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019. The sections include:

• IPC Section 120B (Criminal Conspiracy)
• IPC Section 409 (Criminal Breach of Trust)
• IPC Section 420 (Cheating)
• BUDS Act, 2019: Sections 25, 21(1), 21(2), 21(3), and 23

This chargesheet represents a crucial development in the fight against Ponzi schemes, with authorities working to bring the perpetrators of such frauds to justice.