Staff Correspondent
Sri Vijaya Puram, Aug. 24: In connection with a case of alleged cheating and financial fraud involving an investment scheme, the accused person, Mr. Jayanta Biswas, was arrested on August 20, 2026 by CID unit of Andaman and Nicobar Police. He was subsequently produced before the Court and was remanded to Judicial Custody. As per details the accused has officers in Telangana and West Bengal.
As per FIR dated 14.05.2026, the case relates to allegations that an investment scheme was promoted in the Andaman and Nicobar Islands under the name “Jayantbiswas.com”, allegedly promising investors fixed monthly returns ranging between approximately 15% and 20%.
As per the details available in the complaint, the accused persons had allegedly arrived in the Islands around October 2025 and began promoting the investment scheme among local residents. Meetings were reportedly conducted with prospective investors, during which the scheme was presented as a legitimate investment opportunity offering regular returns.
The complaint alleged that returns were initially paid for the first few months, following which payments allegedly stopped around the middle of January. It was further alleged that the persons associated with the scheme subsequently stopped responding to calls and messages, while their office at Nayashehar was found closed.
According to the complaint, around 70 investors were believed to have been affected and the total amount allegedly involved was estimated to be more than Rs. 80 lakh. The complaint stated that payments were made through bank transfers and UPI transactions and that supporting materials, including transaction records, payment receipts, WhatsApp communications and promotional materials, were available.
As per sources, the investigation into the case is being conducted by Sub-Inspector Shaji Mathew of the CID, who is the Investigating Officer of the case.
Meanwhile, one of the affected investors, while talking to Andaman Sheekha Daily, appreciated the efforts of the Andaman and Nicobar Police and the CID Unit in connection with the investigation and subsequent arrest. The identity of the investor is being withheld. Further investigation in the case is continuing.
