Assam: 68 arrested in Rs 2,200 crore online trading scam

Guwahati, Sep 4 (IANS) Assam Chief Minister Himanta Biswa Sarma said on Wednesday that at least 68 people have been arrested in connection with the Rs 2,200 crore online trading scam.

Talking to reporters, CM Sarma said, "Police have arrested 68 persons who were involved in the online trading scam. The investigation is on. Further details will be unearthed very soon. However, I want to appeal to citizens that they should not fall into the trap of fraudsters. Nobody on this earth can give anybody 25 or 30 per cent through trading."

"I hope the general public saw in TV footage that the fraudsters lived a king-size life with public money. I urge every citizen not to waste your hard-earned money," the Chief Minister said.

The Assam Police uncovered a large financial scam involving brokers who made false online stock market investments by promising to double people's money, officials said on Wednesday.

The police have arrested Swapnil Das, a resident of Guwahati and Vishal Phukan, a resident of Dibrugarh in connection with the crime.

Several more arrests have been made and many other people are anticipated to be arrested soon.

According to the police, Phukan used his lavish lifestyle to entice people and assured his investors a 30 per cent return on their money within 60 days. In addition to investing in Assamese cinema, he had established four fictitious businesses and bought other houses.

The police conducted a raid at his residence in Dibrugarh and seized documents linked to the multi-crore scam.

Meanwhile, police are now looking for Assamese choreographer and actress Sumi Borah, who is also reportedly connected to Phukan's network.

Phukan had reportedly spent crores of rupees on Sumi Borah's wedding in Rajasthan's Udaipur.

Sumi's husband has also come under the scanner of police and he is also on the run.

Meanwhile, both Phukan and Das were produced in the Court on Wednesday and police sought their seven days custody.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.