A shocking case of financial fraud has emerged from Barhaj area of Deoria district, where a fake company was allegedly registered in the name of a local resident without his knowledge and used to secure a bank loan of ₹10 crore. The victim, Devesh Mishra, son of Krishnakant Mishra from Badka village, has claimed that he had no information about the company or any related financial transactions.
The case came to light when revenue department officials initiated a property verification exercise. During the process, Devesh Mishra’s name surfaced in official records, prompting authorities to contact him. It was then that he discovered that a firm named ‘D.M. Enterprises’ had been registered under his identity and was allegedly used for large-scale financial dealings. He immediately submitted a written complaint to the District Magistrate and senior officials, following which an investigation was initiated.
Preliminary findings revealed that a GST registration exists in Devesh Mishra’s name and that the same registration was used to facilitate a ₹10 crore loan under the name of the said company. The most alarming aspect of the case is that the mobile number, email ID, and bank account linked to the GST records do not belong to the victim. Only the Aadhaar credentials appear to have been used for verification, raising serious concerns about identity misuse and procedural lapses.
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Following the complaint, a case has been registered at the concerned police station and a formal investigation is underway. Police officials confirmed that no suspicious transactions were found in the victim’s personal bank account. The investigation is now focused on identifying the bank that sanctioned the loan and tracing the account where the loan amount was transferred.
Authorities suspect that the case may involve a wider network engaged in identity theft and financial fraud. Investigators are examining banking transactions, GST registration details, and digital records to uncover the full extent of the scam. The possibility of multiple individuals being involved in the creation and operation of the fake company is also being explored.
Sources indicate that the fraud may not be limited to company registration alone. There are suspicions of forged documents, manipulation of mobile numbers and email IDs, and irregularities in the KYC verification process. Early indications suggest that Aadhaar-based e-KYC was used to complete the registration, while other critical details were altered or substituted with fraudulent information, exploiting gaps in the verification system.
Officials are also investigating whether there was any internal complicity within financial institutions or intermediary agencies that enabled the sanctioning of such a large loan. Special teams have been deployed to examine banking records and digital footprints to trace the flow of funds and identify beneficiaries.
Devesh Mishra has stated that he was completely unaware of any company being formed in his name and had no involvement in any loan process. He described the incident as a serious case of identity theft that has not only endangered his financial security but also caused significant personal distress.
Police continue to probe the matter and are working to trace the origin of the fraud using technical evidence and digital tracking methods. Authorities believe that further investigation may reveal a larger organized racket involving GST manipulation and banking fraud, potentially spanning multiple locations.
The investigation is ongoing.
