Assam Police Arrest 22-Year-Old in Multi-Crore Investment Fraud

Dibrugarh: Assam police have arrested Bishal Phukan, a 22-year-old man, in connection with a major investment scam that defrauded approximately 200 individuals, leading to losses amounting to several crores. Phukan is accused of orchestrating a scheme under the guise of stock market trading, promising investors returns of up to 30% within 60 days.

The Dibrugarh police acted on a tip-off and conducted a raid on Phukan’s residence in Dibrugarh town, where he was apprehended after evading capture. Phukan reportedly enhanced his scheme’s credibility by presenting notarized documents and claiming that investments would be safely channeled into the stock market.

Instead of delivering the promised returns, Phukan allegedly diverted the funds for personal use, including purchasing luxury vehicles, traveling abroad, and establishing multiple business entities. Despite his failure to provide the expected financial gains, he continued to attract investors with assurances of high returns.

The police are now investigating the full scope of Phukan’s fraudulent activities and are examining the possibility of additional accomplices involved in the scheme.