Guwahati, May 16: In a major action against online trading fraud, the Directorate of Enforcement (ED), Guwahati zonal office, has seized 15 vehicles—including high-end luxury cars and SUVs—from agents linked to Finxpert Trading Solutions OPC Pvt. Ltd., also known as Trading FX. The seizures were made under the Prevention of Money Laundering Act, 2002.
The haul includes 3 Audi Q3 SUVs, 1 Audi A4 sedan, 2 Mahindra XUV700 (Top Models), 1 Mahindra Scorpio N (Top Model), 7 Hyundai i10 Grand/NIOS hatchbacks and 1 Tata Tiago.
These vehicles were recovered from various locations across Assam based on credible intelligence inputs.
The ED’s investigation follows multiple FIRs filed by Assam Police into various Ponzi schemes operating in the state. One of the key culprits identified is Finxpert Trading Solutions, which lured unsuspecting investors by promising outrageously high returns—up to 18% per month. Agents pushing the scheme were incentivized with an additional 3% commission, making the total payout appear even more attractive.
Authorities say the scam was a classic Ponzi setup—returns were paid using funds from new investors. Eventually, the scheme collapsed and both interest payments and principal returns were abruptly halted. The total amount collected is estimated at approximately ₹258 crore.
According to the ED, the now-seized vehicles were purchased using laundered money and distributed as incentive rewards to top-performing agents. These flashy giveaways were part of a calculated strategy to project success and lure more victims into the fraud.
Meanwhile, the CBI, which is also investigating the case, arrested Ranjit Kakati from Upper Assam for his alleged role in the scam. He was later granted bail by the Gauhati High Court after a month in custody.
The investigation is ongoing, with enforcement agencies continuing to track assets linked to the massive fraud network.
