In a significant move, the Assam Cabinet has decided to transfer 32 cases related to an online trading scam to the Central Bureau of Investigation (CBI).

Chief Minister Himanta Biswa Sarma announced the decision on Friday, following consultations with Union Home Minister Amit Shah.

Addressing the press after the cabinet meeting, Sarma explained that the transfer process would take approximately a month due to procedural requirements.

The scam involves firms, predominantly run by young individuals in their 20s, which purportedly raised hundreds of crores of rupees by promising substantial returns from stock market investments.

However, these firms have recently failed to fulfill their repayment commitments to investors.

To date, over 65 individuals have been arrested in connection with the scam. In addition to the CBI investigation, 14 Special Investigation Teams (SITs) have been established to probe the cases under the Banning of Unregulated Deposit Schemes Act, 2019, and the Bhartiya Nyaya Sanhita.

The decision to escalate the investigation underscores the seriousness with which the Assam government is addressing the issue and aims to ensure a thorough and transparent probe into the fraudulent activities.