In a significant development in the multi-crore trading scam investigation, the Gauhati High Court has granted bail to the accused in the case due to the Central Bureau of Investigation’s (CBI) failure to file a charge sheet within the stipulated time.
Despite this legal relief, the accused, Sumi Bora, remains incarcerated at Guwahati Central Jail as she faces charges in two additional cases registered by Assam Police in Duliajan and Borboruah police stations.
Sumi Bora and her husband, Tarkik Bora, were apprehended on September 12 after surrendering to authorities following over a week on the run.
The couple, along with alleged mastermind Bishal Phukan, is accused of orchestrating a major online trading scam involving violations of SEBI norms and the mismanagement of vast sums of unaudited money.
Phukan was arrested earlier, on September 2, prompting the police to launch further investigations into the scam.
The case, which has rattled the trading and investment community in Assam, centers around fraudulent activities in online stock trading platforms. Sources indicate that the accused exploited regulatory loopholes to mislead investors and amass significant illicit profits.
While the High Court’s decision in the CBI case has provided temporary respite, Bora and her associate Bishal remain in judicial custody for ongoing investigations into other criminal charges. Notably, no bail application has been filed in the Duliajan case as of yet.
The trading scam underscores critical lapses in regulatory oversight and has prompted calls for stricter enforcement of SEBI norms to prevent similar fraud in the future.
The legal proceedings are expected to continue as authorities probe deeper into the network and its financial transactions.