Himanta Biswa Sarma warns public against fraudulent stock market schemes, police crackdown intensifies

Assam Chief Minister Himanta Biswa Sarma issued a stern warning on Tuesday, September 3 urging the public to remain vigilant against deceptive stock market schemes that falsely promise guaranteed returns on investments. Labeling such notary agreements as the handiwork of "fraudsters," the Chief Minister highlighted the critical need for caution when engaging with online investment platforms.

"These activities are nothing short of fraud. Anyone participating in these schemes must cease immediately. Under SEBI guidelines, no stockbroker has the authority to promise a fixed percentage of returns on investments," CM Sarma stated during a media briefing.

The Chief Minister further disclosed that law enforcement agencies are already taking decisive action against such fraudulent operations. "The police have begun cracking down on these scams, and more arrests are imminent," he affirmed.

Emphasizing the importance of using legitimate investment channels, CM Sarma urged citizens to utilize authorized methods like demat accounts and avoid dealing with unauthorized brokers. "We are fully committed to dismantling the networks responsible for these online fraud schemes," he assured the public.

Meanwhile, Guwahati Commissioner of Police Diganta Barah while addressing a press conference on the modus operandi of fraudsters duping young men and women said, "Usually, fraudsters will try to fool you with lucrative schemes or dupe you or family in fake cases. Such as a fraudster may call your relatives and might say that your son has been caught in a rape case or your daughter has been held in a drugs case. There are also ways of extracting money through 'Work from home' online scam that one should be aware of"

In connection with the ongoing investigation, Dispur Police are preparing to raid the office of "Trading For A Living" (TFAL), a company managed by Sapnanil Das, where trading training was allegedly conducted. According to sources, law enforcement has already reached the location and is awaiting clearance from the Police Commissioner to seal the premises.

Simultaneously, a search operation is underway to track down social media influencer and artist Sumi Borah, who is wanted for questioning regarding the arrest of Bishal Phukan. Phukan was apprehended by Dibrugarh Police for his alleged involvement in a major investment scam that has sent shockwaves through Upper Assam.

Authorities continue their efforts to apprehend additional suspects and uncover the full scope of the scam, signaling an intensifying crackdown on fraudulent financial activities across the state.

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