GG News Bureau
Guwahati, 4th Sept. The Assam Police have uncovered a massive ₹22,000 crore financial scam involving brokers who made fraudulent online stock market investments, promising to double people’s money.
The scam, which allegedly spanned the state, has led to the arrest of two individuals: Vishal Phukan, a 22-year-old online trader from Dibrugarh, and Swapnil Das from Guwahati. More arrests are anticipated as the investigation continues.
Phukan, who attracted investors with his lavish lifestyle, promised a 30% return on investments within 60 days. He reportedly established four fake companies, invested in the Assamese film industry, and acquired several properties.
During a raid on his Dibrugarh residence, police seized documents linked to the multi-crore scam. Authorities are also searching for Assamese choreographer Sumi Borah, who is believed to be connected to Phukan’s network.
Assam Chief Minister Himanta Biswa Sarma has urged the public to avoid fraudulent online stock market schemes, emphasizing that claims of doubling money with minimal effort are typically scams. “There is no legitimate system for doubling money through online trading firms.
Fraudsters are misleading people, and we are taking action against illegal brokers. We aim to dismantle the entire racket in the state,” he said.
The Chief Minister’s statement follows reports of several online trading firms operating in Assam without adhering to SEBI or RBI regulations.
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