Prime Accused Arrested in ₹34.33-Crore Fraud Case
The accused allegedly induced an investor to fund a proposed industrial project using forged documents and claims of political and bureaucratic influence, police said.
BANDERDEWA- In a significant breakthrough in a multi-crore financial fraud case, Arunachal Pradesh Police have arrested a Guwahati-based businessman accused of allegedly duping an investor of more than ₹34 crore by promising lucrative returns from a proposed industrial project and claiming access to influential political and bureaucratic circles.
The accused, identified as Rishiraj Borkotoky (41), was taken into custody by Banderdewa Police on June 20 following an investigation into what officials describe as a carefully orchestrated fraud involving forged documents, false representations and digital impersonation.
According to investigators, the case centres on an investment made in a proposed Extra Neutral Alcohol (ENA) manufacturing venture in Assam. Police allege that the accused convinced the investor to part with substantial sums of money after presenting himself as a businessman with strong connections in government and regulatory circles.
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Officials said the suspect allegedly supported his claims with forged documents purportedly issued by senior authorities and other materials intended to establish the legitimacy of the project.
The investigation has also uncovered what police believe was an elaborate effort to create an illusion of political access. Detectives reportedly found evidence of a WhatsApp account carrying the display photograph of a prominent political figure, which investigators suspect was used to strengthen the accused’s credibility during interactions with the complainant.
As part of the operation, police seized five mobile phones and a Mercedes-Benz GLE 400D luxury SUV. Investigators believe the electronic devices could contain crucial evidence relating to financial transactions, communications and possible links to other individuals involved in the case.
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Police sources said scrutiny of bank records, digital communications, KYC documents and other materials collected during the investigation has so far supported several allegations made in the complaint. The focus has now shifted to tracking the movement of funds and identifying whether the money was routed through multiple accounts, companies or intermediaries.
Investigators have not ruled out the possibility of additional arrests. Officials said efforts are underway to identify all beneficiaries of the alleged fraud and determine whether a larger network was involved in executing the scheme.
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The case is being closely monitored by senior officers, with investigators conducting forensic examinations of seized electronic devices to establish the full extent of the alleged conspiracy.
The arrest comes amid growing concerns over investment scams that exploit forged credentials, fabricated government approvals and claims of political influence to target unsuspecting investors.
Police have appealed to the public to exercise caution before investing in private ventures and to independently verify claims relating to government clearances, official endorsements and business proposals through authorised channels.
With the prime accused now in custody, investigators are expected to intensify efforts to recover the allegedly defrauded funds and uncover the complete financial trail behind one of the region’s largest reported investment fraud cases in recent years.
