Author: Krisha Sandip Shah, Kes Shri Jayantilal H. Patel Law College, Mumbai
To the Point
India is a country known for its rich culture, values, festivals, vibrant colours and much more. But behind all these there lies a dark reality of unwanted, notorious scams with growing development of the country. Various financial scandals to internet scams, etc taking their way and playing with emotions, innocence of rich, middle class, poor, women, man, young, old, everyone literally everyone.!! These depressing stories of scams have shaken the nation which affected the daily life of normal people in a much negative side. Today we look into a famous, dark scam and mastermind behind it.
Abstract
Today we delve into one of the most shocking financial scams in Assam, Bishal Phukan’s 2200cr multimillion scam. Let’s first know about the great Bishal’s life. He is 22-year-old man from Dibrugarh, Assam. He is a social media influencer who influenced people by his wrongful deception showing that he is a great entrepreneur and lives a luxurious lifestyle. And with this extravagant lifestyle he wrongfully gained attention in Assam and Arunachal Pradesh. Phukan succeeded in deceiving hundreds of people from Assam and Arunachal Pradesh by promising the investors the return of 30% within just 60 days. To win trust he established various fake companies and invested in sectors like pharmaceuticals, construction and even Assamese cinema. Gradually he trapped more victims by all such moves. One fine day a man named Dipankar Burman owner of stockbroking firm disappeared who was linked to Phukan. This scared people and created suspicion in minds of investors which led to police investigation. Investigation and raid by law enforcement departments at Phukan’s residence unveiled such fraudulent documents which discovered the 2200cr scam by Phukan and his manager Swapnil Das. They were arrested in September 2024. There is also a well-known face behind this scam named Sumi Bora a choreographer whom authorities are searching for.
Assam’s Chief Minister Hemanta Biswasarma created awareness and warned people about such online frauds. Authorities are trying to search more evidences and has assured justice to victims as soon as possible.
Use of Legal Jargon
Many crimes are alleged to this scam which ultimately proves the fraud, crime. These crimes involve cheating, fraud, false documentation, criminal breach of trust, deceptive inducement of investors, false assurance with wrongful and fraudulent intention and many more.
Let’s take an example, Bishal Phukan created fake and illegal documentation for contracts. Which results to cheating. He made people trust in his false luxurious lifestyle which is misrepresentation. He established fake companies which is ultimately a crime. The authorities are investigating and if found evidences will ultimately lead to repercussions.
The legal sections which are relevant in this particular scam are;
Section 420 IPC- Cheating and dishonestly inducing.
Section 406 IPC- criminal Breach of Trust.
Section 468 IPC- Forgery for the purpose of cheating.
Section 471 IPC- Using forged documents as genuine.
The Proof
There are many proofs and evidences showing the scam. First and foremost, detention and arrest of Bishal Phukan and others in suspicion of 2200cr financial scam in Assam. The other evidences like fake documentation and contracts made with investors were found at Bishal’s residence which can be admissible as great relevant evidence against this dark scam. During raid at his residence in Dibrugarh the authorities found many electronic devices which were linked to this particular scam. FIR and complaints by the investors are also the proof showing the scam committed by this mastermind. Phukan spent nearly 50 million rupees some sources also confirm 220 million rupees spent on wedding which is a benefit of doubt to investors and law enforcement officials.
These evidences are enough to prove the scam committed by Bishal Phukan and his associates.
Case Laws
Many other scams are;
Harshad Mehta scam
The Sahara scam
Mid-day meal scam
Coal Allocation Scam (Coalgate scam)
The Commonwealth Games scam
There are many more such scams taking place nationally and internationally and world is suffering from all such dark reality which should be overcome and stopped.
Conclusion
Bishal Phukan’s scam, the great financial scandal warned the people and made awareness in society to be careful enough, be alert rather than being trapped into such harsh reality and save oneself from being looted. All such scams should come to an end which is possible with the help of common people and government support. The laws should be made stricter; there should be formulated and regulated norms of using bank accounts. Various awareness programmes, campaigns should be carried out in order to spread this message. There are also Cybersecurity Cell available in our country where one should complaint immediately if faces such situation and to be saved from such scandals. The National Cybercrime helpline number is 1930.
BE AWARE!! BE ALERT!! BE SAFE!!
FAQS
What is scam?
A scam is a dishonest scheme intended to mislead someone for personal gain.
Which type of scam is Bishal Phukan Linked to?
Online trading and investment scam.
Who are some of the co accused of scam?
Sumi Bora, Tarik Bohra, Swapnil Das, etc.
Has Bishal Phukan Granted Bail?
Yes, by Gauhati High Court in May 2025.
Has Bishal Phukan been convicted in this scam?
No, investigations and legal proceedings are still going on and no conviction has been reported as of now.
