HT Correspondent
DIBRUGARH, Sept 4: The Dibrugarh police have arrested one Ranjit Kakoty for allegedly cheating thousands of people through the online application Trading FX amid the growing menace of online fraud in the region.
Kakoty’s arrest from his residence in the Jiban Phukan Nagar area of Dibrugarh has shed light on the extent of his fraudulent activities, with investors stating that he collected crores of rupees from thousands of investors in Assam and Arunachal Pradesh by promising significant returns on their investments. The investors who were duped by Kakoty’s false promises have now come forward, demanding their investment money back and calling for strict punishment for the fraudster.
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Speaking to reporters, one of the victims of the online scam stated that he invested a significant amount of money in Trading FX based on Kakoty’s promises of tripling his investment in just 60 days. However, the Trading FX mobile app has been shut down since June, leaving them with no way to recover their funds.
This incident comes on the heels of another online fraud case in Dibrugarh, where a 22-year-old youth named Bishal Phukan was arrested for duping hundreds of people by promising attractive returns in a short period of time through investments in the stock market. It is said that Phukan was able to amass crores from investors before his fraudulent activities came to light.
Dibrugarh police stated that cases have been registered against both Kakoty and Phukan under various sections of the law, including the Banning of Unregulated Deposit Schemes Act, 2019. The police are actively investigating the extent of their fraudulent activities and working to bring justice to the victims who have been affected.
