22-year-old detained by Assam Police for alleged multi-crore investment scam in Dibrugarh

The Assam police have detained a 22-year-old for his involvement in an investment scam, where he allegedly deceived approximately 200 people by soliciting several crores of rupees under the guise of stock market investments, promising fixed returns of up to 30 percent or more within 60 days. 

The accused was identified as Bishal Phukan.

Upon receiving information, the Dibrugarh police detained the accused who was hiding. As per reports, the personnel launched a raid into Phukan's residence in Dibrugarh town.

With fake promises of assured fixed returns to lend legitimacy, Phukan would deliver notarised documents to individuals from whom he took money and invest them in the equities market for his own benefit. 

Though he failed to return the funds, Phukan, as per media reports used the deposits to buy expensive cars and other items, for traveling abroad. He also reportedly registered himself with four companies.