Patna Police Arrest Man in ₹4 Crore Share Investment Fraud Case

Patna Police have arrested a 45-year-old man from Lucknow in connection with an alleged investment fraud involving share-market schemes. The accused, who was a native of Nalanda district and had been living in the Danapur area, allegedly collected large sums of money from several individuals after promising high returns. According to investigators, some of the funds collected were diverted elsewhere, and cheques issued against the money were reportedly dishonoured due to insufficient funds.

The registered case at Kotwali police station initially involved allegations amounting to around ₹4 crore. However, following the arrest, investigators reported that numerous additional complainants approached the police station claiming combined losses exceeding ₹100 crore. Authorities stated that these new claims are being received and reviewed, though the final verified amount is yet to be established through a detailed examination of financial records.

Investigators stated that the accused operated an office in the Digha area and allegedly promised investors returns ranging between 30% and 50%. Some early investors reportedly received returns for nearly a year, which helped build trust and prompted them to invest larger amounts or bring in relatives and acquaintances. Police obtained a warrant after the accused allegedly failed to comply with notices to appear before the investigating team, eventually tracing him to Lucknow.

Patna Police are examining the flow of money and indicated that economic offence authorities and the Income Tax Department may be involved to inspect bank accounts and large transactions. The investigation will also determine whether the accused acted alone or with accomplices. All allegations remain subject to ongoing police verification and judicial proceedings, and the accused has not been convicted.

Not yet reported: The articles do not provide a final verified fraud amount or the final outcome of the judicial proceedings.