GUWAHATI: The Bishal Phukan investment scam case has been transferred to the Criminal Investigation Department (CID), Assam, for an expeditious and thorough investigation. The development was announced by Assam's Director General of Police (DGP) GP Singh in a post on X on Saturday, September 7.
The case, registered as Dibrugarh PS Case No. 352/2024 dated 2 September 2024, under Sections 316(2) and 318(4) of the BNS 2023, read with Sections 21 and 23 of the Banning of Unregulated Deposit Schemes Act, 2019, will now be handled by a Special Investigation Team (SIT) formed by the CID. The Assam Police's decision to transfer the case follows growing public concern and the escalating magnitude of the scam.
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In a parallel development, Assam Chief Minister Himanta Biswa Sarma indicated that the case might be handed over to the Central Bureau of Investigation (CBI) if the CID's efforts do not yield satisfactory results. "A special investigation team of Assam Police will inquire into the entire matter, and if the team is not able to solve the case, it will be handed over to the Central Bureau of Investigation (CBI)," Sarma told the media, reassuring that all individuals involved would face justice.
Bishal Phukan was recently apprehended by Dibrugarh Police for his alleged role in orchestrating a large-scale investment scam. Operating primarily from Upper Assam, Phukan is accused of defrauding around 200 people by promising fixed returns of up to 30 per cent or more on investments in the stock market. The Securities and Exchange Board of India (SEBI) has long cautioned against such practices.
The scandal has further deepened as reports suggest that several prominent artistes from Assam’s film industry may have fallen victim to Phukan's scheme. His purported sister, Sumi Borah, an artiste and social media influencer, is alleged to have played a key role in persuading other artistes and influential figures to invest through Phukan. Borah is currently evading arrest, with the police launching a manhunt to apprehend her.
As the investigation progresses, the focus remains on ensuring that all those responsible for the scam are brought to justice, with the possibility of CBI intervention looming should the situation necessitate it.
