Guwahati: A man was arrested in connection with an investment scam amounting to Rs 11 crore in Guwahati, Assam.
As per reports, a team from the Panbazar Police Station arrested Asim Goel, a resident of Athgaon, Guwahati for allegedly orchestrating a large-scale trading and mutual fund scam commonly known as a dabba scam, worth over Rs 11 crore.
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Goel allegedly lured multiple investors with promises of high returns but went into hiding when they tried to withdraw their funds.
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Police raided Goel’s residence and office following complaints by such victims, seizing bank passbooks and suspicious documents.
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He and his brother Akshay Goel are accused of illegal dabba trading, with funds transferred to Akshay in another state.
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A case has been registered, police said.
They said that Akshay Goel will also be arrested soon.
The scam has affected a diverse group of victims, including business owners, politicians, and temple priests, police sources said.
It may be mentioned that “dabba scam” is a type of financial scam or fraud that refers to an unauthorized or illegal trading practice.
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In a dabba scam, unlicensed individuals or companies pose as legitimate stockbrokers or trading firms, promising unsuspecting investors high returns on their investments.
They often use fake or manipulated trading platforms, and may even provide fake statements or reports to convince investors that their money is growing.
However, in reality, the scammers are simply pocketing the investors’ money, using it for their own gain, or investing it in risky or non-existent ventures.
When investors try to withdraw their funds, they are often met with excuses, delays, or even threats.