Gauhati High Court Grants Bail in Multi-Crore Trading Scam

The Gauhati High Court granted bail to five accused in a multi-crore online trading scam due to the CBI's failure to timely file chargesheets. The scam, involving firms promising high returns on investments, was transferred to the CBI with several arrests made, including Assamese personalities.

The Gauhati High Court on Tuesday granted bail to five individuals accused in a multi-crore online trading scam. One individual received interim bail for health reasons, while four others were granted bail as the Central Bureau of Investigation (CBI) failed to file chargesheets within the required timeframe.

Those receiving default bail included Sapnanil Das, Abhijit Chanda, Bishal Phukan, and Tapan Bora alias Tarkik Bora. Jiten Deka was granted bail on medical grounds. Senior advocate Bijon Mahajan highlighted that the bail was granted due to procedural delays, not necessarily the merit of each case.

The online trading scam emerged when numerous investors accused 29-year-old Deepankar Barman of failing to return investments. The Assam cabinet later transferred 32 cases related to the scam to the CBI, which saw over 65 arrests. Notable figures like Assamese actor Sumi Borah continue to face legal scrutiny.

(With inputs from agencies.)