The police are now investigating these investments to discover the full extent of the scam...
Digital Desk: Assam has recently been in the spotlight for financial scandals, as reports of fraudulent schemes and duplicitous trading operations surface across the state. The latest case to make headlines involves Swapnanil Das, who was arrested by Assam police on 3rd September in Guwahati for allegedly duping an investor of Rs 24 lakhs. However, this incident is just the beginning of a much larger scandal.
Swapnil Das, originally from Sibsagar in Upper Assam, is known for leading stock trading. After moving to Guwahati, he established a trading company named Black Stone, with a lavish office in the city. Das, who was active on social media, flaunted his wealth, owning luxury vehicles including a Mercedes GLR, a Land Rover Defender, and a BMW, among other assets he amassed in a short time. He used his influence and connections to direct investors to a particular stock trading company and coached them on investment strategies and trading volumes.
The police have sealed Das's investment company, TFAL, and are seeking a 14-day remand to thoroughly investigate his role in what appears to be a multi-crore online fraud. The scam is estimated to involve approximately ₹20,000 crore, making it one of the most significant financial scandals in the region.
On the same day in Dibrugarh, another major fraud case emerged, with the arrest of Ranjit Kakoty, who is implicated in a ₹1,200 crore online trading fraud. Kakoty was involved in trading via the Trading FX online app and reportedly had an extensive network of downline connections across the state, earning him several lakhs in daily commissions. His arrest followed growing concerns among investors, who reported that Kakoty was evading them.
Meanwhile, Assam police are also on the lookout for Sumi Bora and her photographer husband, Tarkik Bora. Sumi Bora is linked to 22-year-old Bishal Phukan, who allegedly defrauded investors of ₹2,200 crore, promising easy returns of 30% within six months.
The lavish expenses for Bora’s multi-crore destination wedding in Udaipur Palace and her honeymoon at Burj Khalifa were reportedly covered by Phukan, who is currently in hiding. Allegations have emerged that Bora and her husband were secretly moved from the residence of Assamese singer Dikshu Sharma to another location to a well-known female singer from the state.
Bora's fraudulent funds are believed to have been invested in several hit Assamese films, as well as industries, tea gardens, and construction companies within the state. The police are now investigating these investments to discover the full extent of the scam.
In response to these events, Assam Chief Minister Himanta Biswa Sarma has issued a public warning, urging people to avoid falling prey to fraudulent online stock market schemes that promise unrealistic returns with minimal effort. He emphasized that such offers are almost always scams and announced that the police have launched a crackdown on illegal online trading activities across the state. This comes amid growing concerns about multiple online trading companies operating in Assam without adhering to regulations set by SEBI and the RBI.
As investigations continue, the scale of these fraudulent activities emphasizes the importance of vigilance among investors and the need for stringent regulatory oversight in the financial sector.
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