22-Year-Old in Assam Dupes People in Rs 2,200-Crore Stock Market Scam, Held
22-Year-Old in Assam Dupes People in Rs 2,200-Crore Stock Market Scam, Held
Bishal Phukan allegedly established four companies through his fraudulent activities, spanning pharmaceuticals, production, and construction sectors.

A 22-year-old from Assam, Bishal Phukan, has been accused of orchestrating a massive financial scam involving approximately Rs 2,200 crore. Hailing from Dibrugarh, Phukan attracted attention with his opulent lifestyle and high-profile expenditures, drawing investors from Assam and Arunachal Pradesh with promises of 30% returns on investments in just 60 days.

Phukan allegedly established four companies through his fraudulent activities, spanning the pharmaceuticals, production, and construction sectors. He also invested in the Assamese film industry and acquired several properties. His deceptive practices came to light following the exposure of a significant stock fraud case in Guwahati.

The investigation intensified after Dipankar Burman, the owner of DB Stock Broking Company, went missing, leading to growing suspicion surrounding Phukan. As soon as the police launched an investigation into his activities, Bishal took to Facebook to reassure the public that he had returned all the money to his investors and claimed their funds were secure.

Despite his attempt to calm the situation, Dibrugarh Police raided Phukan’s residence on the night of September 2, leading to his arrest along with his manager, Biplab. Both individuals are facing charges under a non-bailable case.

In response to the gravity of the situation, Assam Chief Minister Himanta Biswa Sarma has ordered a comprehensive investigation into all trading fraud cases to ensure justice and accountability.

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