Assam Police on Wednesday, arrested 7 individual including woman in financial fraud scam in Silchar. Police launched an operation against fraud scam of Singhania Fintech Agribusiness Consortium Company Limited, a company which involved in large-scale chit-fund scam.
The Silchar Branch of Singhania Fintech Agribusiness Consortium Company Limited, located in Ambicatty was sealed. Seven individual including four woman arrested in connection of the scam in Cachar. Among the arrested is Haidar Hussain Barbhuiya, the president of the Trinamool Congress Sonai constituency, who also worked as an agent for the company in Cachar.
The arrested all the individual are the agents or employees of the Singhania Fintech Agribusiness Consortium Company Limited.
The crackdown against the financial fraud of the company was start from Hailakandi where BJP Minority Morcha Amjadul Hussain Majumdar, his brother Milu Majumdar, and ten others were arrested on Monday night. They are accused of running a fake loan scheme through their company, Singhania Fintech Agribusiness Consortium Limited, which Amjadul Hussain Majumdar manages in the Barak Valley.
This fraud scam also busted in Karimganj District. They also sealed the Singhania Fintech Agribusiness Consortium Limited, Karimganj Branch. During investigation they first started investigation and then went to the house of Company’s Co-Ordinator Rahul Roy and took into the office. Police also called assistant coordinator Debaroti Purkaystha, Benji Naj Laskar and Sahid Ahmed in the office and started investigation.
What is the Financial Fraud where people arrested in Silchar?
The victim peoples who involved in the fraud case said that the company promised to provide a loan of 25,000 INR after paying 2,000 INR as a fee but they didn’t get any kind loan.
The individual who arrested are accused of collecting ₹2,000 from thousands of people under the false promise of providing substantial loans. However, the promised loans were never delivered, leading to numerous complaints and triggering police action. Locals estimate that this company has looted and scammed people in crores. Multiple FIRs were lodged across various police stations in Cachar as a result of the scheme, prompting the Sadar Police to conduct a raid on Wednesday, leading to the arrests.
During the Silchar operation, police seized numerous incriminating documents from the company’s office. Investigators have made it clear that this is just the beginning of their efforts to shut down the company’s fraudulent activities, with more arrests expected as the investigation unfolds.
