Atrauli: A major financial fraud has surfaced in Atrauli town of Uttar Pradesh, where an agent associated with a local post office allegedly duped over two dozen people of nearly ₹1 crore by promising to double their money in a short period. The accused collected funds in the name of a private company and later fled with his family, triggering outrage among victims who have now approached the police.
The accused has been identified as Amar Babu Sharma, who worked as an agent linked to the post office. Locals said he operated from within the post office premises alongside staff, which helped him gain credibility and trust among residents. Leveraging this trust, he convinced people to invest in his scheme.
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“Double your money” pitch draws victims
According to complainants, the accused introduced an investment plan under the banner of a private company, claiming that deposited funds would be doubled within a short duration. Attracted by the promise of high returns, more than two dozen individuals from the town and nearby areas invested their savings.
Reports suggest that individual investments ranged from ₹1 lakh to ₹4 lakh, cumulatively reaching around ₹1 crore. The accused allegedly reassured investors repeatedly that their money was safe and that returns would be delivered on time.
Disappears overnight, house found locked
The fraud came to light when investors began demanding their money after the promised period lapsed. Initially, the accused resorted to delaying tactics, but on April 30, he allegedly locked his house and fled with his family.
When investors reached his residence, they found it locked, raising immediate suspicion. Soon, more victims came forward, realizing they had been duped. A joint complaint was subsequently filed at the local police station.
Those defrauded include several local residents such as Usha Sharma, Usha Rani, Dropa Devi, Yogesh Sharma, Vaibhav Gupta, Kamlesh Sharma, and Vishnu Varshney, among others. Many victims said they had invested their life savings in the scheme.
With no sign of the accused and no recovery of funds, frustration and anger have been mounting. Victims claim they are now facing severe financial distress after losing their hard-earned money.
Meanwhile, a complaint has also been submitted by the accused’s family members. They have alleged that some individuals visited their residence and used abusive language while issuing threats.
Authorities have acknowledged receiving complaints from both sides and stated that all aspects are being examined as part of the ongoing investigation.
Police launch manhunt
Police officials confirmed that complaints from victims have been registered and that the accused is currently absconding. Teams have been formed to trace him, and raids are being conducted at possible locations.
Preliminary findings suggest that the fraud was carried out in a planned manner, with the accused systematically gaining the confidence of investors. Investigators are also probing whether other individuals or a larger network may be involved.
Investing through unregistered entities or unauthorized agents carries significant risk. Experts stress that awareness and due diligence remain the strongest safeguards against such frauds.
