A 22-year-old from Assam, Bishal Phukan, has been arrested for orchestrating a massive Rs 2,200-crore stock market scam. Phukan, who hails from Dibrugarh, attracted investors from Assam and Arunachal Pradesh by promising 30 percent returns within 60 days. His lavish lifestyle and high-profile expenditures raised suspicions, leading to an investigation that uncovered his involvement in fraudulent activities across various sectors, including pharmaceuticals, production, and construction.
The scam came to light following the disappearance of Dipankar Burman, the owner of DB Stock Broking Company, which led to increased scrutiny of Phukan’s operations. Despite his attempts to reassure investors via social media, police raided his residence on September 2, arresting him and his manager, Biplab. Both face non-bailable charges, and authorities are now searching for Assamese choreographer Sumi Borah, who is believed to be connected to the scam.
