Guwahati/Tezpur, Sept 4: Assam Chief Minister Himanta Biswa Sarma said on Tuesday that the police have launched a crackdown on illegal online trading after people have reportedly lost crores of rupees by investing through fraudsters, purportedly dealing in the stock market.
He also urged the public to be alert against investing through brokers who do not follow due legal procedures.
The chief minister’s statement comes after reports claimed that several online trading firms were doing business in the state without following SEBI or RBI guidelines.
Investors, who reportedly lost crores of rupees in these firms, have also registered police cases.
“I want to tell the people that there is no such system of investing money in the stock market through these online trading firms. Fraudsters are misleading the people,” Sarma told reporters.
He maintained that it is illegal to invest in stock broking in the manner it was being done by these firms and police have started taking action against them.
“I urge the people to stay away from fraudsters. Police have now registered cases against the illegal brokers. We will try to bust the entire racket in the state,” the CM added.
Meanwhile, a person allegedly running an investment network was apprehended by the police in Guwahati on Tuesday.
“We had received a complaint that a person had invested money in a firm of the accused. We are now assessing whether the accused was authorised to take such investment or not,” an official said.
There is a law, banning unregulated deposit schemes and aggrieved individuals can take help of its provisions for redressal, he said.
Another accused in a similar investment scam was arrested by Dibrugarh police on Monday. (PTI)
