Assam: Trading Scam Mastermind Bishal Phukan Sent To Judicial Custody

Bishal Phukan, the 22-year-old who masterminded a Rs 2,200 crore trading scam in Assam, has been sent to judicial custody. The Dibrugarh district and sessions court on Monday remanded Phukan to judicial custody after his police custody was over.

Bishal Phukan is accused of orchestrating a massive fraud by taking money from people to invest in the equities markets. He promised attractive and guaranteed returns to lure people to park money with him and is accused of using that money to fuel his expensive lifestyle.

Dibrugarh police presented him before the court today after his four-day police custody handed out on September 20 (Friday) expired. The court then remanded him to judicial custody.

Earlier today, the Gauhati High Court heard the Assam government's interlocutory application to reject Jinki Mili's bail. Mili, the sister-in-law of Sumi Borah, is a co-accused in the scam. The high court undertook the hearing after Assam government's move with Jinki Mili's advocate seeking time to respond. The matter has been posted for September 26.

This was after the additional public prosecutor Bidyut Bikash Gogoi and two assistants of the public prosecutor's office were removed from duty over laxity in dealing with the case that led to Mili's bail. Reportedly, Gogoi kept important documents about the case from public prosecutor Makhan Phukan preventing him from attending the hearing in which Mili's bail was granted.

Mili is the sister-in-law of Sumi Borah, who had close ties to Bishal Phukan. The actor-influencer and her husband Tarkik Borah remain in police custody after their arrest.

Also Read: Gauhati HC Revisits Jinki Mili's Bail After Assam Govt's Appeal