Online Trading Scam: 59 Arrested, Assam Police forms SIT

Assam Police on Sunday formed 14 Special Investigation Teams (SIT) to investigate illegal trading cases. Assam Chief Minister Himanta Biswa Sarma announced that the government may recommend a CBI investigation

Assam Police on Sunday formed 14 Special Investigation Teams (SIT) to investigate illegal trading cases.

Assam Chief Minister Himanta Biswa Sarma announced that the government may recommend a CBI investigation into the illegal online trading scam uncovered in the state, if necessary, at a later time.

He said that the Enforcement Directorate and Income Tax authorities are also involved. “If necessary, the Assam government will recommend a CBI probe.”

“No one can evade the police for long,” CM Sarma said.

Assam police has unearthed a massive financial scam involving Rs 3000 Crore. Assam police made two significant arrests in connection with recent online investment scams. Vishal Phukan, a 22-year-old online trader, was apprehended in Dibrugarh, while Swapnanil Das was arrested from his apartment in Beltola, Guwahati.

Meanwhile, Phukan’s close associates- actor and influencer Sumi Borah, her husband popular photographer Tarkik Borah, her elder brother Rajib Borah, and his wife Jinki Milli continue to be on the run.

Recently Dipankar Burman, the owner of DB Stock Broking Company, went missing.

At least 59 people have been arrested, 22 Look Out Circulars (LOC) issued, and 14 Special Investigation Teams (SITs) established in response to the scam.

“The cases have been registered under the Banning of Unregulated Deposit Schemes Act, 2019, and relevant sections of the Bhartiya Nyaya Samhita,” Assam Director General of Police (DGP) GP Singh said.
Taking to X, Singh said that 28 cases have been registered, along with 59 arrests in 14 districts. The actions have been taken under the Banning of Unregulated Deposit Schemes Act 2019.

The Assam Police action against Unregulated deposit schemes has been carried out in 14 districts leading to 28 cases being registered with 59 arrests. For those who have not joined investigation despite Notices, 22 Look Out Circulars (LOC) have been initiated. The cases have been…

— GP Singh (@gpsinghips) September 7, 2024

A special focus on proper investigation has led to the formation of 14 SITs reporting to supervision and monitoring group at Assam CID headquarters.

Singh also noted that actions are being taken against two police officials for their involvement in these schemes. Lance Naik Saroj Deka has been dismissed from service and Inspector Jitumoni Deka has been suspended.

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