In a major breakthrough against online fraud, Dibrugarh Police have arrested Ranjit Kakoty, a key suspect in a multi-crore scam that defrauded thousands of investors through an online trading application called Trading FX. Kakoty was apprehended late Tuesday night from his residence in the Jiban Phukan Nagar area, following an extensive interrogation at the Dibrugarh police station on Wednesday morning.
Kakoty’s arrest has exposed the vast scope of his fraudulent activities, with initial reports indicating that he siphoned off crores of rupees from unsuspecting investors across Assam and Arunachal Pradesh. By promising high returns on their investments, he lured thousands into his web of deceit. Now, with the app having shut down in June, investors have been left in despair.
On Wednesday, hundreds of furious and betrayed investors gathered outside the Dibrugarh police station, demanding the return of their lost money and stringent punishment for Kakoty.
“We entrusted him with our hard-earned savings, and now we feel utterly deceived. Kakoty assured us that our investments would triple in just 60 days, but the Trading FX app has vanished, leaving us with nothing,” lamented one of the investors at the scene.
With mounting pressure from the aggrieved victims, police are expected to deepen their investigation into Kakoty’s operations, hoping to recover the lost funds and bring more culprits involved in the scheme to justice.