Assam is known for the lush tea gardens where dreams of quick riches often bloom like wildflowers.
However, the prevalence of ponzi scam in Assam has shattered thousands of lives.
Across multiple schemes, over 1.5 lakh investors have been duped, with total losses soaring past Rs 700 crore in recent busts alone.
This Ponzi scam in Assam isn’t just numbers; it’s heartbreak hidden behind flashy ads and celebrity endorsements.
Let’s discuss some of the major cases that have looted investors of Assam.
Ponzi Scam Assam Real Cases
A Ponzi fraud is a fraudulent investment scheme where returns to earlier investors come from new investors’ money, not real profits.
This creates an illusion until it collapses like a house of cards.
In Assam, these have exploded recently, preying on trust in high-yield trading apps and MLMs.
These investment opportunities are not promoted through official channels, but fake WhatsApp groups and referral schemes.
Let’s dive into a few scam cases in Assam to understand how these fraudulent Ponzi schemes operate and trap investors:
1. Rs 2,200 Crore Trading Trap
Bishal Phukan, a Dibrugarh businessman flashing luxury cars and film investments, launched fake companies promising 30% returns in 60 days through online trading apps.
He lured thousands through social media, even roping in choreographer Sumi Borah, until police raided his home in September 2024, uncovering Rs 2,200 crore in fraud.
Investors woke up to frozen accounts and worthless promises, with many losing life savings.
The lesson?
If it glitters too brightly, it’s probably fool’s gold. Always verify with SEBI before investing.
2. Ranjit Kakoty 260cr Fraud
Ranjit Kakoty orchestrated the TradingFX scam through a polished website that flaunted fake profit screenshots and seemingly official notarised documents.
It tricked around 1.5 lakh people across Assam and cost them a massive Rs 260 crore with promises of 18% returns every single month.
He rewarded his network of agents with luxury cars and big commissions just to keep pulling in fresh victims.
It was when the payouts mysteriously dried up, and families realised their hard-earned savings had vanished.
By late 2024, the CBI stepped in with charges against him, digging into victim lists amid a web of 41 linked investigations that exposed the full scale of deceit.
Have you ever paused to think: would you hand over your money to an app or site without clear RBI or SEBI approval staring you in the face?.
3. 2,600 Families Fooled
Biswanath Roy and Mridul Dutta peddled “Ayurvedlife” and “AJRS Trading” via WhatsApp groups, promising doubled money in 200 days, plus bikes and trips for top recruiters.
They were successful in pocketing Rs 5.14 crore from 2,600 victims.
In 2024, the complaints against them started pouring in, and the police handed the case to the CBI. The duo is in custody, but there are various scammers out there who are still waiting for their prey.
This MLM Ponzi thrived on greed but crumbled under scrutiny.
Steps Taken by Government of Assam to Stop Ponzi Scams
Assam CM Himanta Biswa Sarma handed 41 Ponzi cases to CBI for thorough probes, leading to multiple charge sheets and asset seizures, such as 15 luxury cars worth crores.
A 24×7 cyber fraud helpline (155260) launched in 2021 blocks transactions fast if reported within 24 hours, while a Cyber Forensic Lab at CID HQ aids investigations.
Police busted mega scams like Rs 2,200 crore trading fraud, freezing accounts and warning publicly.
SEBI-RBI unregulated schemes face crackdowns, with Rs 515 crore restituted to 7.5 lakh victims statewide. These steps build a safer net, but vigilance remains key.
How to Report a Ponzi Fraud?
If you spot a Ponzi scam in Assam or any other state, report swiftly via these main channels to freeze funds and nab crooks:
- File an online complaint in Cyber Crime.
- Visit the nearest police station and file an FIR there.
- Call the Assam police cyber helpline immediately if you have transferred the money.
- Gather the necessary evidence, like screenshots of chats, promises, transactions made, etc.
- Alert other people about the fraud through community platforms.
Need Help?
If you have fallen victim to a Ponzi scam in Assam or anywhere else, don’t panic because recovery is possible.
Register your complaint with us right away for further assistance.
We’ll guide you in organising evidence, collecting proofs and filing at the right platform.
Conclusion
Ponzi scams in Assam thrive on hope but end in despair, yet awareness arms you best.
These major crackdowns of Ponzi scams in Assam reveal that every high-return promise doesn’t deserve your attention.
Many of these schemes follow a predictable pattern, and if you understand how to detect Ponzi scam warning signs early, you can avoid becoming the next victim.
Your vigilance today can save your future tomorrow. So before you think of investing in any platform that promises massive returns, think twice, verify properly, and stay alert.
