Allegations Against Bijni MLA Over Fraudulent Financial Scheme
Serious Accusations Arise Against BJP's Bijni MLA
On February 24, serious allegations emerged against Ajay Kumar Ray, the BJP MLA from Bijni, claiming that a significant amount of money collected from the public was misappropriated through a fraudulent financial organization known as Jeevan Sathi Grameen Bikash Nidhi Limited.
Reports indicate that the company's directors included MLA Ray, along with Nripen Barman, Sanjay Kirtaniya, and an individual named Roshan.
Initially, the institution appeared to operate effectively; however, it later faced substantial financial difficulties as some members reportedly misused the deposited funds.
One depositor recounted that an agent had approached him at his shop, assuring him of the institution's safety due to its association with the local BJP legislator.
The depositor stated, “The agent informed me that the owner is our MLA. He opened an account for me and guaranteed there was no risk. I deposited money daily, expecting maturity after one year, but the bank shut down within months.”
He further mentioned that when he and other affected individuals visited MLA Ray's residence, they were told that the manager had fled and that their money would be returned once he was apprehended.
Although the manager was later arrested, the depositor claimed he was released on bail, and they have yet to recover their funds. He and his brother had invested a total of Rs 5.70 lakh and urged the Assam government to take action to retrieve their money, even if it required force.
Another investor, who had put in nearly Rs 1 lakh in January 2025, expressed growing concerns just days before the institution's closure.
He stated, “We learned that our local MLA, Sanjay Kirtaniya, and another individual were among the owners. When we approached the MLA, he promised to bring back the missing manager and discuss possible solutions. However, after the manager's arrest, he was released on bail, and we have received nothing.”
He noted that the promise of higher returns compared to government banks had attracted many individuals to the scheme.
“Government banks do not provide lump sum returns on small deposits, which is why we fall for such private schemes. Perhaps it is partly our fault, but the government should investigate this. Many have lost substantial amounts,” he added.
Depositors have now called on the state government to step in and ensure the return of their savings, expressing that it is “deeply unfortunate” if an elected official is implicated in defrauding economically vulnerable communities.
The institution, reportedly established in 2020 by the Bijni MLA and seven associates, began operations with two branches in Bongaigaon and Bijni, starting financial transactions on December 31, 2021.
Farmers, laborers, small traders, and economically disadvantaged individuals had deposited their savings in hopes of achieving higher returns on their modest investments.
Nearly ten years after several chit fund scams shook the state, these new allegations linking a sitting MLA to a similar scheme have ignited widespread concern across the region.
As of the time of this report, the legislator had not made any public statement.