Himanta Biswa Sarma: Assam to transfer trading scam cases to CBI

The Assam Cabinet has agreed to transfer 32 cases related to an online trading scam to the Central Bureau of Investigation (CBI), Chief Minister Himanta Biswa Sarma announced on Friday. This decision follows discussions between Sarma and Union Home Minister Amit Shah.

Sarma, addressing the media after the cabinet meeting, revealed that the transfer process is expected to take about a month due to procedural requirements. The scam, involving firms predominantly run by individuals in their 20s, saw hundreds of crores of rupees collected from investors with promises of substantial returns from stock market investments. The companies, however, began failing to return investors' money in recent weeks.

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To date, more than 65 individuals have been arrested in connection with the scam. In addition, 14 Special Investigation Teams (SITs) have been formed to probe the cases under the Banning of Unregulated Deposit Schemes Act, 2019, and the Bhartiya Nyaya Sanhita.