New Delhi, Dec 4 (PTI) The CBI has arrested the proprietor of Guwahati-based Indian Institute of Banking & Information Technology (IIBIT) in Assam's online trading ponzi scam case for allegedly luring people to invest in his scheme, officials said Wednesday.

Mintu Das alias Rohit Chandra Das, who was absconding since long, was arrested in Delhi in an operation on Tuesday, the CBI said in a statement.

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The agency had taken up the investigation on October 14 on a reference from the Assam government.

It was alleged that Das had assured gullible investors that their money would be placed in the stock market, promising substantial dividends.

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"However, after paying minimal dividends initially, he ceased payments and failed to return the deposited amounts. Furthermore, the accused absconded in January 2024 after committing the alleged offence," CBI's spokesperson said.

The CBI investigation found that Das lured investors through big newspaper advertisements.

"Several deposits were received from investors across Assam and other states, with no intention to deliver on the promised dividends or return the principal amounts. The accused also allegedly issued threats to complainants who sought legal remedies to recover their investments," the official said.

Das has been taken to Assam on transit remand and would be produced before a competent court.

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