The article highlights a significant online stock trading scam that has recently come to light in Assam, involving an estimated ₹2,000 crores. The scam has led to the arrest of a well-known actress, Sumi Borah, along with her husband, Tarkik Bora. Both were taken into custody by the Special Task Force (STF) of the Assam police on September 12, 2024, following the arrest of another key suspect, Vishal Phukan, who was previously detained in connection with the case.
Background of the Scam
The scheme reportedly involved fraudulent activities where the scammers promised investors lucrative returns on their investments in the stock market. They established several fake companies, enticing individuals with the assurance of doubling their investments within a short period. Victims were lured into believing they would receive 30% returns in just 60 days, which ultimately turned out to be a deceptive tactic to siphon off their money.
The scam has caused widespread panic and concern among the public, especially as initial reports suggested that the scam's value could be as high as ₹22,000 crores before being revised to the current estimate of ₹2,000 crores. This discrepancy has raised questions about the scale and impact of the fraudulent operations .
Arrests and Investigation
Sumi Borah, who is also a choreographer, and her husband were arrested after the police issued lookout notices for them. They had failed to appear for questioning despite being summoned. Following their arrest, Sumi released a video statement claiming she intended to cooperate with the police to clear her family's name, stating that the media reports had caused undue stress and were largely exaggerated. She emphasized that she had not fled from the authorities but had been avoiding public attention due to the harassment stemming from the allegations against her .
The investigation has revealed that several individuals, including the couple, were part of a larger network that exploited the trust of investors. The police have already detained multiple suspects, and further inquiries are ongoing to identify additional accomplices involved in this extensive fraud scheme. The authorities are also examining the operations of the fake companies established by the scammers to determine the full extent of the financial misconduct
Broader Implications
This incident has sparked discussions about the need for stricter regulations in the online trading sector to protect consumers from similar scams in the future. As the investigation unfolds, it is expected that more details will emerge, shedding light on how such large-scale frauds can occur without detection for extended periods. The case has drawn significant media attention, highlighting the vulnerabilities of investors in the digital age and the importance of due diligence before making financial commitments
The online stock trading scam in Assam serves as a stark reminder of the potential risks associated with investing in unregulated markets. The involvement of public figures like Sumi Borah adds a layer of complexity to the case, as it raises concerns about the influence and credibility of individuals in the entertainment industry. As investigations continue, it is crucial for potential investors to remain vigilant and informed to avoid falling victim to similar schemes in the future.
