Sentinel Digital Desk
Bishal Phukan, a 22-year-old from Dibrugarh, Assam, has been accused of masterminding a financial scam worth approximately ₹2,200 crore. His lavish lifestyle and high-profile spending drew attention as he promised investors 30% returns in just 60 days.
Phukan allegedly established four companies across pharmaceuticals, production, and construction sectors. He also invested heavily in the Assamese film industry and acquired several properties, luring investors from Assam and Arunachal Pradesh.
The scam came to light following a major stock fraud case in Guwahati. Suspicion surrounding Phukan grew when Dipankar Burman, owner of DB Stock Broking Company, went missing. The police began investigating Phukan's activities soon after.
Phukan took to Facebook, claiming he had returned all funds to investors and that their money was safe. However, this did little to calm the growing concerns.
On the night of September 2, Dibrugarh Police raided Phukan's residence, arresting him and his manager, Biplab. Both face non-bailable charges. Documents linked to the scam were also seized during the raid.
Authorities are now searching for Assamese choreographer Sumi Borah, believed to be connected to Phukan's network. The investigation into the scam continues to deepen.
Assam Chief Minister Himanta Biswa Sarma has ordered a thorough investigation into all trading fraud cases. He warned the public against fraudulent online stock market investments, urging caution against schemes promising quick money.