Prayagraj | A major investment fraud has surfaced in Prayagraj after a private company allegedly collected crores of rupees from investors by promising unusually high returns and later disappeared after shutting down its office. The company, operating under the name Togo Retail Marketing Limited from an office on Leader Road, is accused of luring people with the promise of fourfold returns on their investments and then vanishing after collecting large sums of money. A case has now been registered against the company’s director, Dr. Prithvi Pal Singh Shetty, along with his associates, and an investigation has been initiated.
According to the complaint, the company had introduced an investment scheme promising substantial returns over a fixed period. Investors were told that a deposit of ₹10,000 would grow to ₹40,000 after ten years. To build trust among the public, the company issued investment certificates and operated through a network of agents who encouraged people in different areas to invest their savings in the scheme.
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Many individuals reportedly invested their money believing the promise of guaranteed returns. However, when the maturity period approached and investors began visiting the company’s office to claim their payments, they were repeatedly given vague responses and asked to return later. Soon afterwards, it was discovered that the office had been shut down and the company’s director and other officials had disappeared.
The sudden closure triggered anger among investors, many of whom started approaching the agents who had facilitated the investments. In several cases, investors reportedly reached the agents’ homes demanding their money back, leading to heated disputes and even incidents of physical confrontation. The agents claim that they too were misled by the company and had persuaded people to invest in good faith.
Facing mounting pressure from investors, some of the agents eventually filed a written complaint seeking action against the company’s management. The complaint led to the registration of a case against the director and others associated with the operation.
During the preliminary inquiry, it also emerged that the accused had allegedly floated multiple companies under different names and opened offices in several cities. In Prayagraj, the company operated as Togo Retail Marketing Limited, while other firms with separate names were reportedly used to run similar schemes in different locations. Through these entities, large amounts of money were allegedly collected from investors.
Sources indicate that offices linked to the network were functioning in cities such as Bareilly, Sultanpur and Lucknow. Similar complaints and legal cases related to the same network have reportedly surfaced in Uttarakhand and Maharashtra as well. This has raised suspicions that the alleged fraud was part of a wider multi-state operation targeting thousands of investors.
Agents associated with the company say that nearly two dozen individuals were working as intermediaries, promoting the schemes and collecting investments from local residents. Many of them now claim to be under severe stress as angry investors hold them responsible for the losses.
Financial crime experts note that such investment frauds have become increasingly common in recent years. Fraudulent firms often attract investors by promising unusually high returns, issuing official-looking certificates and operating temporary offices to create credibility. After collecting significant funds, these companies suddenly shut down their operations and disappear, leaving investors struggling to recover their money.
Authorities have begun examining the financial transactions connected to the case to determine how much money was collected and where the funds were transferred. Investigators are also trying to trace the individuals involved in running the company and identify any assets linked to them.
Further legal action will depend on the findings of the ongoing investigation, while affected investors are hoping that the authorities will be able to track down the accused and recover at least part of their lost investments.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
