Guwahati, June 29: What began as a ₹34.33-crore investment fraud case involving an Arunachal Pradesh businessman is now believed to be part of a much larger organised fraud network, with the arrest of the prime suspect’s wife and a fresh cheating case involving another ₹6.5 crore.

The latest complaint was filed by a Guwahati resident who alleges he was cheated by investment fraud accused Rishiraj Borkotoky. Earlier in the day, Arunachal Pradesh Police arrested Borkotoky’s wife, Shruti Borkotoky, from Guwahati. Investigators allege she was the proprietor of a firm registered in Arunachal Pradesh that was used to facilitate the alleged investment fraud.

Barely hours later, a fresh FIR was registered at Dispur Police Station, accusing Borkotoky of cheating another individual to the tune of ₹6.5 crore.

The twin developments indicate that an investigation which began a few weeks ago has now evolved into a much wider money trail probe, with police searching for additional victims and suspected collaborators.

Police allege the original fraud involved more than ₹34.33 crore collected for a proposed Extra Neutral Alcohol manufacturing project in Assam using fabricated government documents, false assurances of official approvals and misleading claims about government backing.

Investigators also suspect Borkotoky projected links with influential politicians and government officials to lend credibility to the scheme. The probe has further revealed that he allegedly used the Assam Chief Minister’s photograph as his WhatsApp display picture, along with other fabricated identities, to gain the confidence of investors.

Sources said police have recovered mobile phones, laptops, documents and cash, while forensic examination of digital devices and financial records is underway. Investigators are reconstructing the money trail by examining bank accounts, business transactions and entities allegedly linked to the accused.

Meanwhile, police have reportedly identified additional business accounts believed to have been used to collect money from investors. Sources said a large volume of business-related documents and several mobile phones have been seized from Borkotoky and his alleged network, with investigators suspecting that the number of victims could grow as the probe progresses.