Have a look at the bio, age, wife and family of Bishal Phukan
22-year-old Bishal Phukan, who is behind bars at the moment is accused of defrauding investors in Assam and Arunachal Pradesh out of almost Rs 2,200 crore.
Once the buzz of the town, Bishal Phukan was a well-known social media influencer whose opulent lifestyle convinced people to invest in his stock company without questioning his qualifications.
Who is Bishal Phukan arrested in the Assam stock market trading scam, biography, age, parents, wife, education, company and net worth
Bishal Phukan entered the stock market for the first time at the age of 18 after earning his commerce degree from Salt Brook Academy in Dibrugarh. Despite having a foundational knowledge of business and finance, Bishal was able to grasp the nuances of producing quick money.
With his laid-back style, Bishal enticed investors with a 30% return in 60 days. This worked, and money began to flow in. For a short while, Bishal kept his word and gave investors the guaranteed returns on schedule.
With his newly acquired fortune, Bishal quickly founded four businesses in the construction, video production, and pharmaceutical industries. He bought land and flats in Guwahati and Dibrugarh, and made investments in the Assamese film industry, music videos, and web series development.
Bishal frequently travelled to the Middle East and drove fancy cars. For someone who came from modest circumstances and had lost his father only a few years prior, skydiving in Dubai and throwing huge outdoor parties came naturally to him.
Additionally, he hired rooms for 12 lakh and paid for his allleged sister, Sumi Borah’s lavish vacation to Dubai, including a hotel stay and other expenses, as well as her destination wedding in Udaipur, Rajasthan.
His so-called sister, Sumi Borah, an artist and influencer, allegedly convinced several other artists to invest in the stock market through Phukan, luring them with the promise of higher returns with and police have launched a manhunt to nab Sumi Borah, who is currently absconding with her husband Tarkik Borah, a photographer.
Sumi and Tarkik gained attention for their lavish destination wedding held at Raffles Udaipur Resort in Rajasthan on November 23, 2023 and the event was attended by numerous guests from the Assamese film and music industry, as well as relatives from Assam.
Among the victims of Phukan’s online investment scam are owners of mobile theatres and prominent film producers.
Phukan was apprehended at his residence in Prabhanjali Apartment, Dibrugarh, after which a police raid was carried out and the police seized foreign currency (Dirham), six iPhones, and other critical bank documents. 22 year old Phukan was arrested alongside Biplab Hazarika.
In 2021, he launched Puntre, his own e-commerce business and also runs a pharmaceutical company named Percelia. While his net worth isn’t known, the stock market scam is said to amount to Rs.2,200 crore with Bishal known to have owned a string of luxury cars.
Phukan established four companies through his fraudulent activities, spanning the pharmaceuticals, production, and construction sectors and invested in the Assamese film industry and acquired several properties. He is single and unmarried.
Bishal Phukan was born on November 4, 2001 in Namrup, Assam, to Bipin Phukan and Jolly Phukan.
A 22-year-old stock trader from Assam named Bishal Phukan has been arrested by Assam Police for allegedly orchestrating a massive ₹2,200 crore financial scam.
The scam lured investors from Assam and Arunachal Pradesh with promises of 30% returns on investments in just 60 days.… pic.twitter.com/9K8TP83bUG
— डिब्रूगढ़_का_मारवाड़ी (@marwadi_786001) September 4, 2024
Jyotimoy Phukan is his the sibling of Bishal Phukan and in 2006, he completed his elementary education at B.V.F.C Model Higher Secondary School, Namrup. In 2018, he passed his H.S.L.C. examination.
He completed his secondary schooling at Salt Brook Academy in Commerce Stream, Dibrugarh and after that he has completed his graduation from.H.S.K. Commerce College in Dibrugarh where he did his B,Com focused in International Business/Trade/Commerce.
#trading #stockmarketscam #cybercrime #cybercriminals #northeast #northeastlive #SumiBorah #BishalPhukan #SwapnanilDas pic.twitter.com/9DINJ13Zwc
— Northeast Live (@NELiveTV) September 4, 2024
Bishal Phukan’s downfall
Everything was fine until a second nationwide stock scam was discovered, leading to the arrest of several individuals connected to DB Stock Broking owned by Dipankar Barman, an investment firm, on charges of cheating thousands of investors out of around Rs 7,000 crore.
Following uneven returns, up to 23,000 investors lodged police complaints against DB Stock Broking. It was discovered that individuals connected to the business-maintained offices in Hyderabad, Bengaluru, Mumbai, Guwahati, Nalbari, and Rangia.
The alleged mastermind of this scam, Dipankar Barman, is still at large and is believed to be in Australia, while those connected to him have been arrested. Some investors’ rage has even resulted in an attack on Barman’s father.
The investigation into this scam raised red flags for Bishal Phukhan and his business since they had been accepting payments through notaries, which is against the law according to capital market regulator SEBI.
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