Gorakhpur | A major financial fraud racket has been exposed in Uttar Pradesh’s Gorakhpur, where people were allegedly cheated of crores of rupees in the name of cheap gold booking and investment schemes. Acting on the orders of the Senior Superintendent of Police (SSP), police have registered a case and launched a detailed investigation into the matter.
According to initial information, the entire operation was being run through a company named Sundrapship Private Limited, whose director has been identified as Sunil Singh, a resident of Purdilpur. Several other individuals are also alleged to be part of the syndicate, including Rajesh Kumar, Yusuf, Krishna Chaturvedi, and Mumtaz Alam alias Chand.
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It is alleged that the accused lured investors by promising that those who booked gold under their scheme would receive jewellery within 90 days. In addition, they reportedly assured high returns on investment and, in some cases, even offered electronic items such as laptops as incentives, making the scheme appear highly attractive to potential investors.
Victims stated that the fraud began with small investments, which were initially processed to build trust. However, over time, individuals were encouraged to invest larger sums. When the promised deadline expired and neither gold nor returns were delivered, the scam came to light.
One of the victims, Kushagra Sinha (resident of Mohanapur, Padri Bazar), reported that he transferred around ₹11 lakh into multiple bank accounts. Out of this, ₹3.40 lakh went to Sunil Singh’s personal account, ₹4 lakh to the company account, while the remaining amount was transferred through online transactions. He further alleged that when he demanded his money back, he was threatened with serious harm.
Another victim, Vikas Kumar, stated that he invested ₹2.63 lakh through his wife’s identity across multiple transactions. Despite waiting for 9–10 months, neither the promised gold nor any refund was provided.
Similarly, Ravishankar (resident of Trilokpur) alleged that approximately ₹1.65 lakh was cheated by creating a fake ID in his brother’s name. Victims claim that the syndicate has defrauded people not only in Gorakhpur but also in several nearby districts using similar schemes.
It has also been alleged that when investors demanded their money back, the accused intimidated them and claimed connections with influential persons to suppress complaints. This reportedly discouraged several victims from approaching authorities initially.
Police officials said that a case has been registered under relevant sections after reviewing the complaints. A detailed investigation has now been initiated to uncover the full network behind the fraud.
Authorities are examining bank transactions, digital records, and company documents to determine the total amount siphoned off and identify all individuals involved. Investigators are also assessing whether the racket is part of a larger organised investment fraud network operating across multiple states.
Officials added that strict action will be taken against those found guilty after the completion of the investigation. The case highlights the increasing misuse of attractive “cheap gold” schemes and “guaranteed returns” promises to trap unsuspecting investors in large-scale financial frauds.
