Bareilly: A major alleged investment fraud case has surfaced in Uttar Pradesh’s Bareilly, where a Noida-based company, ABMPL Multitrade Private Limited, and six associated individuals have been accused of cheating more than 60 investors of nearly ₹3.22 crore. Victims alleged that the accused lured people by promising double returns, high-profit investment schemes and secure financial growth, but later failed to return the money after collecting large sums through bank transfers and cash payments.
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Six named in FIR after investor complaints
The case was registered following complaints filed by multiple investors, including Bareilly resident Sumit Gupta. Police have initiated an investigation against the company’s management and several named individuals. Those accused in the FIR include Jay Prakash Maurya, Pushpendra Maurya, Satya Prakash Maurya, Brajpal Maurya, Neelam Rani and Janvati.
According to complainants, the accused projected themselves as representatives of a reputed investment and multitrade company and convinced people that their money would be doubled within two years. Investors were allegedly told that the company was involved in large-scale real estate and trading projects capable of generating high and secure returns. Based on these assurances, dozens of people invested substantial amounts from their savings and personal funds.
Complainant Sumit Gupta told investigators that he works in the marketing sector and came in contact with the accused through business circles. He alleged that after being convinced about the company’s schemes, he personally invested a large amount and also encouraged his relatives and acquaintances to join the investment plans. According to the complaint, he alone invested nearly ₹72.95 lakh, while other investors collectively deposited more than ₹2.50 crore into the company’s schemes.
Fake agreements and early returns under scrutiny
During the preliminary investigation, police reportedly found that the accused used allegedly fake agreements, receipts and company letterheads to gain the confidence of investors. Documents prepared in the name of ABMPL Multitrade Private Limited were allegedly used to portray the schemes as legitimate and secure. Investigators suspect that the same method may have been used to target people in several districts.
Victims claimed that during the initial stages, some investors were given small returns to build trust and attract more people into the scheme. Once larger investments started coming in, payments allegedly stopped. Investors said that whenever they demanded the return of their money, the accused kept delaying the process with excuses and later stopped responding to phone calls altogether.
Some complainants also alleged that they were threatened and pressured to remain silent after repeatedly asking for refunds. A few investors claimed that they faced intimidation and mental harassment when they attempted to pursue legal action or publicly question the company’s operations. Police are now examining these allegations as part of the broader investigation.
Money trail and absconding accused being traced
According to police sources, several financial transactions and banking activities linked to the accused appeared suspicious during the initial probe. Investigators are now examining company accounts, investment documents, digital records and other financial activities to determine the actual scale of the alleged fraud. Authorities suspect that both the amount involved and the number of victims could increase as the investigation progresses.
Police officials said efforts are underway to trace the accused, many of whom are reportedly absconding. Their mobile phones are said to be switched off, making contact difficult. Investigators are currently collecting documentary and digital evidence to strengthen the case and identify the complete money trail linked to the alleged scam.
Officials also indicated that if additional victims come forward, more sections related to organized financial fraud and criminal conspiracy could be added to the case. The investigation is expected to focus on whether the accused diverted investor money into personal assets, shell operations or other undisclosed ventures.
