Assam Police has arrested more than 38 people for allegedly running fake online trading scams in which they fraudulently collected crores from investors with the promise of high returns. Citing the recent scenario in the state, Assam Chief Minister Himanta Biswa Sarma on Wednesday appealed to the people to stay away from online illegal trading scams.
CM Sarma said, "There is no way to double or triple your investment overnight. As Assam Police undertakes a crackdown against the masterminds of an illegal trading scam, I urge people to stay away from such frauds."
The Chief Minister also mentioned that a total of 38 people were arrested by police in connection with an online trade scam in Assam. The chief minister's statement comes after reports claimed that several online trading firms were doing business in the state without following SEBI or RBI guidelines.
The incident came to light when Assam Police on Tuesday arrested 22-year-old youth Bishal Phukan from Dibrugarh and Swapnanil Das from Guwahati in connection with a Rs 2,200 crore financial scam involving fraudulent online stock market investment. Phukan is accused of buying several luxury cars and property with the money he had fraudulently amassed from his non-suspecting clients. He is said to also own a pharma company, Percelia Pharmaceutical.
On the other hand, Swapnanil Das hails from Sibsagar, was arrested from Guwahati on Tuesday. He calls himself an entrepreneur and was the CEO of Trader, the online trading company he used to cheat people. He was also running a trading training institute in Guwahati where he was teaching youngsters the skills of trading.
Meanwhile, an Assamese actress and her husband are also under police radar in connection with the case. A police investigation is underway.
(Inputs from agencies)
