India, July 1 -- The Economic Offences Wing (EOW) has filed a charge sheet against Dipen Thanawala and his father Rashmikant Thanawala, alleging they collected at least Rs.2.27 crore from investors by promising assured returns and then used artificial intelligence (AI) tools to fabricate Dubai bank transfer records, forged emails and cloned banking interfaces to convince investors that refunds were imminent.

Investigators also claim they found an undisclosed Canara Bank account with a balance of Rs.8 crore on a laptop seized from the accused.

The charge sheet, filed before a special court under the Maharashtra Protection of Interest of Depositors (MPID) Act, alleges the duo collected money through Thanawala Wealth Management by offering...