Multi-million online scam: All three accused sent to judicial custody

DIBRUGARH: The mastermind of multi-million online investment scam Bishal Phukan, Sumi Borah and Tarkik Borah were produced before the court on Thursday  after the end of two days police remand of Barbaruah Police in connection with the Barbaruah Police station  case no. 85/2024. Barbaruah police sought custody of all the three accused for eight more days on Thursday.

The defence lawyers for Sumi Bora and Tarkik Borah, Advocate Sumit Todi and Advocate Swagata Kundu Paul said that they opposed further custody, presenting their arguments before the court.

The defence lawyer for Bishal Phukan, Advocate Abdul Halim said that the court rejected the police prayer and sent all the three accused to judicial custody. The scam was busted earlier in September with the arrest of Bishal Phukan, the 22-year-old mastermind from Dibrugarh who reportedly defrauded more than 1,500 people promising them almost double the returns in 60 days.

Some investors claimed they took huge loans from banks or sold their gold jewelleries to invest in the fraudulent scheme floated by Bishal Phukan.

He initially returned the small invested amounts along with some interest but stopped after clients, lured by the profit, began investing larger sums.

On September 12, Sumi Borah and her photographer husband Tarkik Bora were arrested for their alleged involvement in an online stock trading scam estimated to be worth at least Rs 2,200 crore.

Borah, an actor-influencer, had close ties to Bishal Phukan and is accused of being an accomplice to his illicit schemes. Phukan has been charged with running a Rs 2,200 crore scam by luring people with the promise of fixed returns on stock market.

All the accused have been charged under sections 316(2), 318(4) of the BNS 2023, along with sections 21 and 23 of the Banning of Unregulated Deposit Scheme Act, 2019.

Authorities have revealed that the scam, estimated to be worth at least Rs 2,200 crore, operated over the course of nearly three years, luring clients with promises of nearly doubling their investments within 60 days.

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