In one of Haryana’s largest financial fraud crackdowns in recent months, the Economic Offences Wing (EOW) has unearthed an ₹80 crore Ponzi-like scam orchestrated by a man posing as a doctor. Investigators have recovered luxury items, gold, cash, and digital devices — offering a glimpse into the extravagant life built on defrauding nearly 3,000 victims.
Promise of Double Returns Turns into Nightmare for Thousands
In a chilling example of how trust and desperation can be weaponized, Haryana Police’s Economic Offences Wing has dismantled an elaborate financial fraud allegedly masterminded by Dr. Sukhdev Singh, a native of Sahnala village, who is accused of duping 2,934 people out of nearly ₹80 crore through a fake investment scheme.
The accused allegedly promised investors that their money would double in just one month, pushing many to liquidate savings, take loans, or rope in relatives and friends. The fraudulent scheme operated under the façade of a company named Sheeshpal Frontline Consultancy and Services Pvt. Ltd., which was reportedly registered in the name of Dr. Singh’s father.
The scam surfaced after one of the victims, Amrik Singh, filed a police complaint on April 16 at the Sadar Ratia police station. The complaint led to a case being registered against Dr. Sukhdev Singh and 13 others, who served as part of his network of nearly 25 agents.
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Luxury Amid Lies: Gold, Gadgets, and Cash Seized During Remand
Following Dr. Singh’s arrest on May 8, police obtained a seven-day remand from the court. During questioning, investigators seized ₹12.6 lakh worth of gold jewelry, a high-end Apple laptop, a Samsung tablet, an iPhone, and ₹50,000 in cash — all allegedly purchased with the proceeds of the scam.
Officers believe this is only a fraction of the wealth amassed. Superintendent of Police Sidhant Jain confirmed that the accused admitted to creating thousands of investor IDs, with each “customer” charged between ₹5,000 and ₹1 lakh. Many victims were lured by the promise of swift profits and peer recommendations, unaware they were pawns in a classic Ponzi-style setup.
In an earlier sweep on May 5, police had already arrested two of Dr. Singh’s alleged associates Balinder Kumar alias Beenu and Jaswant Singh alias Sheera both residents of Sahnala.
Scale of the Scam: 2,934 Victims, ₹80 Crore Vanished
As the investigation unfolds, authorities are beginning to grasp the massive scale of the fraud. Over ₹80 crore is believed to have been collected through fake promises, manipulated referrals, and fictitious account statements. Most of the defrauded victims hail from rural parts of Haryana and had limited financial literacy, making them easy targets.
The economic crimes unit has now begun the process of identifying all victims and mapping the financial trails to recover siphoned-off assets. Officials suggest that properties and bank accounts linked to the accused may be provisionally attached in the coming weeks. Authorities are also exploring whether the money was routed through shell companies or invested in benami assets.
While further arrests are likely, the case has already prompted state-wide warnings from law enforcement agencies urging citizens not to fall for schemes that promise unrealistic returns. The investigation continues under tight scrutiny, as the spotlight remains on tracing the full extent of damage and bringing the rest of the network to justice.