CBI Nabs Fugitive in Delhi for Multi-crore Banking Scam

The Central Bureau of Investigation has apprehended Mintu Das in Delhi for his involvement in a major fraud case with the Indian Institute of Banking and Information Technology. Das, who was on the run, is accused of duping investors through false promises of high returns in the stock market.

The Central Bureau of Investigation (CBI) has made a significant breakthrough by arresting Mintu Das, a fugitive accused in a large-scale fraud case, from Delhi. Das, the owner of the Indian Institute of Banking and Information Technology (IIBIT) in Guwahati, was detained along with other suspects on Tuesday.

According to an official statement, a First Information Report (FIR) was initially filed under various sections of the Indian Penal Code and the Banning of Unregulated Deposit Schemes Act, 2019, under FIR No. 130/2024 dated September 4. Following a request from the Assam Government, the CBI re-registered the case as RC-15/24, EO-III, on October 14, launching a detailed investigation.

The FIR claims victims invested large amounts after being attracted by advertisements placed by IIBIT in newspapers. Mintu Das promised investors that their funds would be invested in the stock market with high return assurances, yet after paying minimal dividends, he stopped all payments and did not return the funds. The accused reportedly fled in January 2024 after the offenses were committed, according to the statement.

The investigation revealed that Das had published newspaper ads urging potential investors to contact him, ensuring high, risk-free stock market returns. Despite receiving hefty deposits from individuals across Assam and other regions, he allegedly had no plans of providing the promised returns or refunding the original sums. Additionally, there are accusations of him threatening complainants who pursued legal action to reclaim their money. Mintu Das's arrest was achieved through the CBI's relentless efforts, aided by digital evidence analysis and tips from trustworthy sources. The accused is being moved to Assam on transit remand and will face the court.

The investigation continues. (ANI)

(With inputs from agencies.)