A major breakthrough in an online trading fraud case has led to the arrest of Heman Rabha, the alleged mastermind behind the Gini Capital scam. Rabha, who had been absconding for months, was apprehended by the police in a late-night operation in Tezpur, Assam. The arrest comes after an investigation into complaints from several victims, including employees of Gini Capital, who were duped into investing lakhs of rupees with promises of high returns.
The Gini Capital company, operating from offices in Noonmati (Guwahati), Murhateteli, and Ghoramari (Tezpur), had lured individuals with the promise of lucrative returns through online stock trading. However, the company allegedly embezzled crores of rupees from investors, many of whom have yet to see a return on their investments. The scam involved convincing victims to invest money under the pretext of an online brokering facility.
According to a police statement, the Tezpur police received critical information about Rabha’s activities and managed to locate and apprehend him. “The accused Heman Rabha absconded after shutting down his offices. Based on the information from victims, our team was able to track him down and make the arrest,” said the Officer In-charge of Tezpur Police.The police are still gathering evidence to confirm the total amount of money involved in the scam. Victims of the fraud have been providing testimony, and investigators are carefully reviewing the evidence collected during the course of their investigation.
This arrest comes in the wake of Assam Chief Minister Himanta Biswa Sarma’s statement, urging the public to remain cautious of unregulated online stock trading schemes. The CM addressed the growing concerns about online brokers operating in Assam without proper authorization or oversight from the Securities and Exchange Board of India (SEBI) or the Reserve Bank of India (RBI).
In his address to the media, Sarma clarified that it is illegal to invest through unregistered online brokers or schemes offering guaranteed high returns in the stock market. “Fraudsters are misleading the public by offering these unregulated services,” Sarma emphasized, urging citizens to stay alert and avoid investing through companies not abiding by legal procedures.The Assam police have already launched a crackdown on illegal online trading activities, and investigations are ongoing into other potential fraudsters involved in the scam. The state police have also indicated that more arrests could follow as the inquiry deepens.
This case highlights the growing prevalence of online stock trading scams in Assam, with many unsuspecting individuals falling victim to fraudulent brokers promising easy and fast returns on investments.
