HT Digital
September 13, Friday: A massive investment fraud has rocked Guwahati, with a cooperative society accused of siphoning off crores of rupees from unsuspecting investors. The scandal, which has left numerous victims in financial distress, is reportedly one of the largest investment scams to hit the city in recent years.
The cooperative society, whose name is yet to be officially disclosed, allegedly lured investors with promises of high returns on deposits and investments. Many people, including retirees and middle-income individuals, were drawn in by the attractive offers and invested significant portions of their savings. However, the society soon stopped paying out the promised returns, raising suspicion among its members.
As complaints started pouring in, it was revealed that the cooperative had misappropriated the collected funds. Initial reports suggest that the amount siphoned could run into several crores, though the exact figure is yet to be determined. The society’s office has been closed, and its key officials are reportedly untraceable, adding to the panic among the victims.
Local authorities have begun an investigation into the matter. A special task force has been set up to track down the culprits and recover the defrauded amount. “We are working closely with financial experts to understand the extent of the fraud and bring those responsible to justice,” said a police spokesperson.
The incident has sent shockwaves across the city, with many people demanding stricter regulations on cooperative societies and financial institutions. Several victims have organized protests, calling for swift action against the perpetrators and compensation for their losses.
The scam has underscored the need for increased vigilance among investors and greater scrutiny of financial entities operating in Guwahati. The authorities are urging people to be cautious while investing and to verify the credibility of financial institutions before making any commitments.
