Assam Hands Over Major Fraud Cases to CBI

Guwahati: The Assam state cabinet has decided to transfer cases registered at various police stations in Assam, related to unregulated deposits involving fraudulent transactions and substantial amounts of money traded in an unregulated manner, to the Central Bureau of Investigation (CBI). This decision highlights the gravity of these offenses and the necessity for a comprehensive and impartial investigation that the CBI is adept at handling.

Additionally, the Cabinet has directed the Home and Finance Departments (HFD) to collaboratively draft a Standard Operating Procedure (SOP). This SOP is intended to establish strong preventive measures to prevent the recurrence of such fraudulent activities in the future. By defining clear guidelines and protocols, the SOP aims to ensure that regulatory and enforcement agencies can more effectively monitor and control financial transactions, thereby protecting the public from potential fraud and financial misconduct.

The Sumi Bora and Bishal Phukan online trading scam in Assam has emerged as a major financial fraud case, defrauding investors of approximately ₹2,200 crore. The scam involved a network of individuals who leveraged their social status and influence to lure investors with promises of high returns.

Bishal Phukan, the mastermind behind the scam, promised investors returns of up to 30% within two months. He used forged documents and organized extravagant parties to create an illusion of success. Sumi Bora, an Assamese actress and social media influencer, along with her husband Tarkik Bora, played a significant role in attracting investors. Bora allegedly received Rs,20 crore from Phukan, who also funded her wedding.

The scam operated by promising unrealistic returns on investments, using social media and high-profile events to entice victims. Over 1,500 investors fell prey to the scam, hoping for substantial returns in a short period. As the fraudulent activities came to light, authorities began their investigation. Phukan was arrested following a raid by the Dibrugarh Police. Sumi Bora and her husband, who had been evading arrest, eventually surrendered after several days in hiding.

This case underscores the importance of due diligence and skepticism when confronted with investment opportunities promising unusually high returns, and the significant role that social influence and appearance can play in perpetuating financial fraud. The Assam government has since transferred the investigation to the CBI to ensure a thorough and unbiased probe and is working on preventive measures to avoid such scams in the future,