Police in Chhattisgarh’s Sarangarh-Bilaigarh district have dismantled a high-value rural investment scam after arresting key operative Ajay Laxmai for defrauding villagers of over ₹2.38 crore. Operating under the guise of a phony government-backed initiative titled the “Nari Samman Nidhi Yojana,” the syndicate targeted rural women, farmers, and local families across multiple villages with assurances of rapid financial growth. Following his arrest, Laxmai was produced in court and remanded to judicial custody as law enforcement expands its investigation to track co-conspirators and recover the stolen capital.
The fraudulent scheme came to light after a group of affected investors, led by complainant Motin Yadav and accompanied by several rural women, formally approached the Sarangarh City Kotwali police station. Investigators allege that the syndicate systematically exploited the trust of rural communities by misrepresenting their private group as a legitimate government welfare program designed to uplift women financially.
Fabricated Welfare Claims and High-Yield Investment Lures
According to police findings, Ajay Laxmai worked alongside associates Dinesh Banjare, Uttam Bai Banjare, and others, introducing themselves as office bearers of the “Chhattisgarh Yuva Samaj Sudhar Samiti.” The group traveled extensively through rural belts in the district, convincing residents that the “Nari Samman Nidhi Yojana” was an officially sanctioned government initiative offering risk-free, high-yield returns.
To persuade villagers to part with their savings, the operators promised that all principal investments would double in value within 20 months. Additionally, the promoters offered a 10 percent monthly subsidy on deposited amounts and assured investors that if they took out bank loans to participate in the scheme, the organization itself would service their monthly loan installments. These aggressive promises prompted dozens of local residents to pool their life savings or take on institutional debt, collectively handing over ₹2,38,22,260 to the syndicate.
Law Enforcement Action and Asset Seizures
The illusion shattered after the 20-month maturation window elapsed and investors received neither their promised dividends nor the return of their initial principal. Realizing they had been deceived, victims mobilized and submitted transaction receipts alongside official complaints to law enforcement. On July 23, 2026, Sarangarh police formally registered Crime No. 351/2026 under Sections 318(4) and 3(5) of the Bharatiya Nyaya Sanhita (BNS).
Following the registration of the case, police tactical units detained Ajay Laxmai for interrogation, during which he allegedly confessed to his role in the operation. Investigating officers seized crucial evidentiary material from his possession, including bank passbooks, ATM cards, and a detailed physical ledger containing transaction records and lists of contributors. Financial analysts are auditing these documents to trace the movement of funds through banking channels and identify secondary accounts used to conceal the fraud.
Expanding Financial Audits and Public Cautionary Advisories
District police are actively pursuing the remaining named suspects, including Dinesh Banjare and Uttam Bai Banjare, while working to map the full geographic extent of the scam. Authorities are investigating whether the syndicate operated similar operations in neighboring districts and are compiling a comprehensive roster of all affected victims to determine the full financial scope of the fraud.
In light of the incident, law enforcement authorities have issued public advisories urging citizens to exercise strict due diligence before committing money to unfamiliar financial programs. Officials emphasized that genuine government schemes are always announced through verified official channels and never offer unrealistic double-money guarantees or monthly subsidies through private intermediaries. Citizens are advised to report suspicious financial solicitations immediately to local police or cybercrime helplines.
