Two separate financial fraud cases reported in Kolkata have once again highlighted the growing threat of investment scams and loan repayment frauds. In the first case, three business partners have been accused of cheating an investor by misappropriating funds, forging financial records and intimidating the victim’s family. In the second case, a woman allegedly lost money after a fraudster impersonated an authorised recovery agent of a private finance company and collected her loan instalments. Police have registered cases under the Bharatiya Nyaya Sanhita (BNS) and launched detailed investigations into both incidents.
The first case was registered at Entally Police Station following directions from the Sealdah Court under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS). According to the complaint, three business partners associated with multiple construction and joint venture firms allegedly entered into a criminal conspiracy to induce the complainant and his family to invest substantial amounts in their business ventures before April 2025.
The complainant alleged that during an account reconciliation on April 11, 2025, the accused formally acknowledged an outstanding liability of approximately ₹78.32 lakh owed to the investor. However, despite acknowledging the debt, they allegedly failed to return the money. It is further alleged that the accused later persuaded the complainant to transfer an additional ₹13.93 lakh on the false pretext of clearing government tax dues, after which the amount was allegedly misappropriated.
According to the police, the accused allegedly manipulated balance sheets, financial statements and tax returns to conceal the true financial position of the partnership businesses. Investigators claim forged documents were used to present misleading accounts and prevent investors from discovering the actual financial losses. When the complainant and his family demanded repayment, the accused allegedly threatened them with serious consequences. Police have booked the three accused under various provisions of the BNS relating to criminal conspiracy, cheating, criminal breach of trust, forgery and criminal intimidation.
The second case was reported at Ekbalpore Police Station, where a resident of Maulana Mohammad Ali Road allegedly became the victim of a fake loan recovery scheme. According to the complaint, between June 2 and June 29, the accused posed as an authorised recovery agent of a leading private finance company and convinced the woman to pay ₹45,145 towards her outstanding loan instalments. She reportedly handed over ₹30,000 in cash and transferred another ₹15,145 through a digital payment application.
The investigation revealed that instead of depositing the money with the finance company, the accused allegedly diverted the entire amount for personal use. The fraud came to light when the woman attempted to verify the payment and discovered that the company had no record of receiving the instalments. Police have since initiated an investigation to identify the accused, examine his bank accounts and analyse digital transaction records to determine whether other borrowers were similarly targeted.
Investigators in both cases are examining financial records, banking transactions, digital payment trails and supporting documents to establish the complete sequence of events. Authorities are also attempting to determine whether the two cases are linked to organised financial crime networks or whether the offences were carried out independently. The money trail is being analysed to identify additional beneficiaries and potential victims.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said economic offenders increasingly exploit fake investment opportunities, fraudulent business partnerships and impersonation schemes to gain the trust of victims before misappropriating their money. He noted that forensic examination of financial documents, banking records, digital payment trails and electronic communications plays a vital role in uncovering the entire conspiracy and identifying all individuals involved. He advised the public to thoroughly verify the credentials of business partners before making investments and to ensure that loan repayments are made only through authorised channels. Police said investigations into both cases are continuing, and strict legal action will be taken if the involvement of additional individuals or organised criminal networks is established.
