Good News For Online Trade Scam Victims, Assets of Fraudsters to be Liquidated, Says Assam DGP GP Singh

Assam DGP G P Singh said today that the assets procured by these fraudsters using money collected from the victims will be liquidated.

Good news for all those victims who have been duped of crores of rupees by scamsters Dipankar Barman, Bishal Phukan and others in the name of investing in stocks and online trading. Assam DGP G P Singh said today that the assets procured by these fraudsters using money collected from the victims will be liquidated so that the victims can be compensated to a great extent.

DGP Singh, speaking to reporters said there are provisions in the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019 which aims to protect investors and stop illegal deposit-taking activities allows liquidation of assets bought using unfair means or by duping people so that the people who have been cheated can be compensated. He said that due process will be followed and this can be done only after the investigation is completed and links can be established that the fraudsters bought property or assets from the money collected from the victims in the name of investment in stocks. He said that the police is already investigating assets owned by the scamsters.

Top Guwahati Police official told Northeast Live that it is not just Dipankar Barman, the owner of DB Stock, whose assets might be liquidated if the links can be established but the police is investigating properties or any other assets of the other fraudsters like Bishal Phukan and Sumi Bora too and these too will get liquidated if police finds enough proof that these assets were procured with cheat money.

Dipankar Barman, who was arrested in Goa on October 27 will be brought to Guwahati tonight. He will face intense grilling by police tomorrow and will be produced in the Court on October 31, the police official said.

It needs to be mentioned here that Bishal Phukan, his close associate Sumi Borah and her husband Tarkik Borah, his brother Amlan Borah, Bishal Phukan’s other associates Chandan Nath and Shubhanjyoti Kurmi, as well as FX trading scam suspect Ranjit Kakoti and his associate Abhijit Chand will be produced before the Court tomorrow.

CBI is investigating 41 cases of online trading fraud in Assam including the one mentioned above. The case involving Dipankar Barman is being investigated by Assam Police.

Also read: “Digital Arrest” Scams Cost Indians Over Rs 120 Crore in Four Months: MHA Exposes Southeast Asian Cybercrime Network

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