Agra Police have arrested Satyaprakash Tittal, the alleged mastermind behind a ₹2.26 crore investment fraud. Investigators allege that he, along with his wife, relatives, and associates, floated a shell company named SBNL World and cheated seven investors by promising to double their investments.
According to police, the case was registered on a complaint filed by Manish Sharma, a resident of R.K. Puram. The FIR names Satyaprakash Tittal, Varsha Tittal, Vikram Tittal, Vishal Tittal, Yuvraj Singh, Sapna Singh, Rahul Soni, and Kusumlata Soni as accused. They allegedly promoted investment schemes with tenures of 15, 19, and 30 months, assuring investors that their money would double upon maturity.
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The investigation revealed that between January 2023 and November 2025, the accused allegedly collected crores of rupees through cash payments and bank transfers. Police said the group initially paid returns to some investors to gain their confidence and encourage larger investments before allegedly defaulting on repayments.
During the probe, investigators also discovered that one of the affidavits handed over to investors had been notarised in the name of a notary who had died in 2022, strengthening suspicions that forged documents were used to establish credibility.
Police further alleged that Tittal projected an image of financial success by renting a luxury bungalow in Kamla Nagar for approximately ₹55,000 per month and converting it into a modern corporate office. The premises were guarded by security personnel, while the accused reportedly travelled in luxury vehicles and was accompanied by four private bodyguards. Investigators believe this display of wealth was intended to convince prospective investors that the company was genuine.
Officials said the accused also provided affidavits and cheques to reassure investors. Some victims were reportedly taken on trips to Goa as part of efforts to strengthen their trust. When the investment periods expired and investors demanded the return of their money, they allegedly realised they had been defrauded.
Police arrested Satyaprakash Tittal from Tundla on Friday. Investigators said that immediately after his arrest, he complained of chest pain and claimed to be suffering from a heart ailment. He was taken to S.N. Medical College for a medical examination, where doctors reportedly found him medically fit. He was later produced before a court and remanded to judicial custody.
According to the complaint, Manish Sharma and his wife allegedly invested ₹43.45 lakh, Manish Devanani and his wife ₹22.40 lakh, Deepak Gupta and his wife ₹15.10 lakh, Abhishek Sharma and his wife ₹25.80 lakh, Vibhav Verma ₹85 lakh, Anil Kumar Mishra ₹27 lakh, and Ranjan Chaturvedi ₹8 lakh.
Renowned cybercrime and economic crime expert and former IPS officer Prof. Triveni Singh said that investment fraudsters often create shell companies, make initial payouts, use forged documents, and project a luxurious lifestyle to gain investors’ trust before collecting large sums of money. He said forensic analysis of banking transactions, corporate records, digital evidence, and financial trails is essential to exposing the entire fraud network, identifying all beneficiaries, and recovering the defrauded funds. Police are continuing their investigation to trace the remaining accused and determine the full extent of the alleged scam.
