In a significant crackdown, Assam Police have arrested 38 individuals linked to a multi-crore online trading scam that promised unrealistic returns to unsuspecting investors. This fraudulent scheme has shaken the state administration, prompting Chief Minister Himanta Biswa Sarma to caution the public against such scams. “There is no authentic way to double or triple your overnight investment,” warned CM Sarma as he urged citizens to exercise caution.
The scam came to light following the arrests of Bishal Phukan, 22, from Dibrugarh, and Swapnanil Das from Guwahati. These key figures reportedly orchestrated a massive financial fraud, embezzling Rs 2,200 crore from investors statewide. Phukan allegedly used the ill-gotten gains to purchase luxury cars and real estate and even established Percelia Pharmaceutical.
Phukan’s accomplice, Swapnanil Das, hailing from Sibsagar, was nabbed in Guwahati. Posing as a successful entrepreneur, Das served as the CEO of “Trader,” the online platform used to deceive people into investing their savings. It has emerged that Das was also running a trading institute in Guwahati, duplicitously teaching young individuals while planning to defraud them.
The repercussions of this scam have cast a shadow over Assam’s burgeoning entrepreneurial spirit, revealing how unregulated online trading platforms exploit vulnerable individuals. As the investigation deepens, Assam Police have expanded their probe, with an Assamese actress and her husband now under scrutiny for possible involvement.
Chief Minister Sarma’s call for vigilance underscores the heightened concern these fraudulent schemes have aroused. He advised, “Though the temptation of fast profits could be huge, the reality is grimmer. Investors should be cautious and not fall into the trap of online trading scams.”
This incident serves as a stark reminder for investors to remain vigilant and sceptical of get-rich-quick schemes that operate in defiance of SEBI and RBI regulations, safeguarding their hard-earned money from unscrupulous operators.
