Dibrugarh Investment Scam: Youth Detained For Duping Crores From Investors

DIBRUGARH: A 22-year-old man was arrested by the Assam police in connection with an investment scam.

It has been alleged that the accused, identified as Bishal Phukan, duped around 200 people by taking huge sums of money under the pretext of stock market investments.

To add credibility to his story, the fraudster promised the investors of assured fixed returns of up to 30 percent or more within 60 days.

The cops were apprised about this incident, following which, they launched a raid into Phukan's residence in Dibrugarh town. This operation led to his subsequent capture and detention.

Phukan's modus operandi involved delivering notarised documents to individuals from whom he took money and invest them in the equities market for his own benefit.

According to reports, Phukan did not return the funds but instead spent the money to buy expensive cars and other items. He also used the deposits to finance his abroad trips. Reportedly, the scamster registered himself with four companies.

Meanwhile, earlier last month, a massive financial scandal rocked Guwahati, leaving thousands of investors staring at huge losses.

DB Stock Broking, a firm that promised huge returns on investments, had abruptly ceased operations, and its owner, Deepankar Barman, had been untraceable.

According to allegations, the firm, which had over 23,000 clients, operated not only in Guwahati but also had offices in Nalbari, Rangia, Bangalore, Jammu and Kashmir, Hyderabad, Mumbai and in various other places.

It was reported to have defrauded investors of thousand of crores of rupees. DB stock broking has investors not only in India but also in Australia.

The firm, which started operations in 2018, had lured many customers as it promised high returns on investments, but many investors are now reporting substantial losses.

The firm attracted many investors and promised high returns of 120% annually, 54% over six months, 27% over three months, and 8% monthly of schemes, reportedly made to investors. Some investors claimed to have invested up to Rs 80 lakh, while others said they had invested Rs 10 lakh.

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