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Guwahati, June 24: The North East Financial Traders & Investors Association (NEFTIA) addressed the alarming rise of fake trading companies operating in Assam on Monday.
One company, in particular, TRADING FX, has come under severe scrutiny for allegedly defrauding investors through low-cost apps.
During a press conference at Gauhati Press Club, the NEFTIA revealed that Trading FX lured investors by promising returns of 12% and 20%. They accused Naresh Singh Dahiya and Ranjit Kakati of Assam of looting approximately Rs 4 crore from investors.
The fraudulent activities have primarily impacted investors in upper Assam, with numerous victims reported in Dhemaji, Lakhimpur, Tinsukia, Sivasagar and Dibrugarh.
The extent of the scam is not limited to Assam. Reportedly, several lakhs of rupees were also embezzled from investors in Arunachal Pradesh.
According to NEFTIA, these fake trading companies are controlled from regions outside the state, including Delhi, Haryana, and Noida.
After amassing hundreds of crores of rupees, these companies vanish, leaving investors in a lurch with their accounts closed and their investments lost.
NEFTIA has called for urgent action from the authorities to curb such fraudulent activities and protect investors from falling prey to similar scams in the future.
