2200 crore online trading scam

Assam Police arrested two individuals in connection with a massive Rs 2,200 crore financial scam involving fraudulent online stock market investments, according to sources. The accused, Vishal Phukan, 22, from Dibrugarh, and Swapnil Das from Guwahati, allegedly promised investors a 30% return on investments within 60 days.

Phukan, who flaunted a lavish lifestyle to attract victims, reportedly established four fake companies, invested in Assamese films, and acquired multiple properties through the fraudulent scheme. During a raid at his residence in Dibrugarh, police seized documents tied to the scam.

Authorities are also searching for Assamese choreographer Sumi Borah, who is believed to be linked to Phukan’s network.

Assam Chief Minister Himanta Biswa Sarma issued a public warning, urging people to avoid falling for such scams. “There is no legitimate system for stock market investment through these online trading platforms. Fraudsters are deceiving the public. I urge everyone to stay clear of these scams,” he stated. The police have ramped up efforts to curb illegal online trading activities in the state.