Assam : 38 arrested in multi-crore online trading scam case

In Assam , Police have arrested 38 persons involved in an alleged multi-crore online trading scam case which had promised unrealistic returns to investors. The scam has rattled the state administration, and Chief Minister Himanta Biswa Sarma warned people not to invest in such fraudulent schemes. "There is no authentic way to double or triple your overnight investment," claimed Chief Minister Sarma. His call came amidst increased crackdown by Assam Police against the kingpins of these illegal schemes that have been running in blatant defiance of SEBI and RBI regulations.

जनता से मैं अनुरोध करता हूँ कि जो लोग आपके पैसे को दोगुना करने वाली स्कीम बेच रहे हैं, उन पर भरोसा मत कीजिए। ये लोग धोखेबाज हैं और आपकी मेहनत की कमाई से ऐशो-आराम की ज़िंदगी जीते हैं। असम पुलिस ने 38 ऐसे धोखेबाज़ों को गिरफ़्तार किया है। pic.twitter.com/HIE92ekt5O

— Himanta Biswa Sarma (@himantabiswa) September 4, 2024

The racket came to light after the arrest of 22-year-old Bishal Phukan from Dibrugarh and Swapnanil Das from  Guwahati. The two youths have been accused of running a financial scam that duped Rs 2,200 crore from investors across the state. Phukan, who allegedly invested the ill-gotten money to buy expensive cars and property, even owns a pharmaceutical company-Percelia Pharmaceutical.
Swapnanil Das, accomplice of Phukan and a resident of Sibsagar, was arrested from Guwahati. He had been masquerading as a successful entrepreneur. His main role was to act as the Chief Executive Officer of "Trader," the online trading platform through which he deceived people into parting with their savings. The shocking twist in the tale is that Das was operating a training institute for traders in Guwahati, thereby teaching young minds the art of trading even as he was allegedly concocting ways to defraud them.

(State Correspondent)