Aizawl: Mizo Overseas Employment Agencies, a firm co-owned by J Rosangpuia and Malsawmtluangpuii with their office at B Sangchema Building, Upper Khatla in Mizoram’s capital town Aizawl, are now under the police scanner for alleged involvement in money laundering and mutual fund investment fraud.
Aizawl SP C Lalzahngova said that Rosangpuia and Malsawmtluangpuii were arrested on November 4, for their alleged involvement in money fraud, adding that the firm had collected over Rs 2 crore Darlawn and Thingsulthliah villagers promising their clients a return of invested money with 24% interest.
State Bank of India (SBI) regional manager LP Lalchangkima on Tuesday issued a statement saying that Mizo Overseas Employment Agencies had laundered money on the pretext of SBI Mutual Fund investment.
“The SBI regional business office has nothing to do with Mizo Overseas Employment Agencies, promising 24% interest rate to the people is an utmost and henious mis-selling of mutual funds,” LP Lalchangkima said in his statement.
Mizo Overseas Employment Agencies is a non-banking, non-financial firm, primarily involved in providing employment for Mizo youth abroad, and is owned by J Rosangpuia, an NRI who used to live in the United States, and his live-in partner Malsawmtluangpuii. It has been reported that J Rosangpuia is a green-card holder in the United States and returned recently to India recently.
Malsawmtluangpuii has a history of money laundering and was arrested and convicted in 2014 for her involvement in banking scam while serving as a manager at Lushai Hills Finance in Champhai.