Assam Chief Minister Himanta Biswa Sarma announced on Wednesday that 68 individuals have been arrested in connection with a staggering Rs2,200 crore online trading scam. Addressing reporters, CM Sarma urged citizens to remain vigilant against fraudsters, warning that promises of 25 or 30 percent returns on trading are unrealistic.
The Assam Police uncovered a significant financial scheme involving brokers who falsely promised to double investors’ money through online stock market investments. Among those arrested are Swapnil Das from Guwahati and Vishal Phukan from Dibrugarh.
Phukan allegedly used his extravagant lifestyle to attract investors, assuring them a 30 percent return within 60 days. He is also linked to investments in Assamese cinema and had created four fictitious businesses, while also purchasing multiple properties.
Police raided Phukan’s residence in Dibrugarh, confiscating documents related to the multi-crore scam. The investigation has expanded to include Assamese choreographer and actress Sumi Borah, who is reportedly connected to Phukan’s network. Her husband is also being sought by the authorities.
Both Phukan and Das were presented in court on Wednesday, where police requested seven days of custody to further their investigation.