A major alleged investment fraud has surfaced in Uttar Pradesh’s Bijnor district, where nearly 3,000 investors were allegedly cheated of around ₹25 crore after being promised high monthly returns. According to the complaint, an organized network operated a fraudulent investment scheme, persuading people to invest substantial amounts through multiple bank accounts and cash transactions. When investors later demanded the return of their principal and promised profits, they were allegedly threatened with false criminal cases and other serious consequences. Based on the complaint, City Kotwali Police have registered an FIR against five named accused and initiated an investigation.
According to the FIR, complainant Tajanbi, a resident of Kazipara locality in Bijnor, alleged that Naveen Negi of Dehradun, Rajesh Vashishtha of Garhwal, Pooja Biswas of Bengali Colony in Bijnor, Mohit of Civil Lines, and Mukesh Kumar of Adampur, along with other associates, lured people into investing through a purported investment company. The accused allegedly assured investors of regular and attractive monthly returns, convincing a large number of people to invest their savings in the scheme.
The complaint states that the accused organized online meetings as well as in-person gatherings at different locations to promote the investment plan. During these sessions, investors were allegedly assured that their money was secure and that they would receive fixed monthly profits. Trusting these assurances, thousands of people deposited money into various bank accounts, while others allegedly made cash payments. Investigators believe that nearly ₹25 crore was collected through the scheme, but neither the promised returns nor the principal investment was subsequently repaid.
The complainants further alleged that when investors began demanding the return of their money, the accused resorted to intimidation. They allegedly threatened victims with false criminal complaints, implicating them in suicide cases, and having them sent to jail if they continued to seek repayment. The complainant has also requested that authorities investigate the accused’s assets, examine their bank accounts, and seize their passports to prevent them from leaving the country. The complaint additionally expresses concern that the main accused, Naveen Negi, may attempt to flee to Dubai.
Police are now examining bank accounts, investment records, digital communications, online meeting data, and financial transactions linked to the alleged scheme. Investigators are also tracing the money trail to determine where the collected funds were transferred and whether additional individuals or entities were involved. Financial records and electronic evidence are being analyzed to identify the ultimate beneficiaries of the alleged fraud.
According to the Future Crime Research Foundation (FCRF), investment frauds frequently rely on promises of unusually high and guaranteed returns to gain the confidence of unsuspecting investors. The organization advises individuals to independently verify the registration status, regulatory compliance, and financial credibility of any investment entity before investing. It also cautions that schemes promising exceptionally high returns with little or no risk should be treated with extreme suspicion.
Police said the FIR has been registered and the investigation is underway. Bank records, digital evidence, financial documents, and witness statements will be examined as part of the probe. If investigators uncover the involvement of an organized financial fraud network or additional suspects, appropriate legal action will be taken in accordance with the law. Authorities have also urged the public to thoroughly verify the authenticity of any investment opportunity and invest only through authorized and credible institutions.
