Ghaziabad Police have registered a case over an alleged investment scheme in which around 175 people are claimed to have lost nearly ₹26 crore after being promised high returns through companies and online platforms linked to luxury transport, cryptocurrency, forex trading and digital assets.
The FIR was registered at Sihani Gate police station on a complaint by Dehradun resident Dinesh Kumar Sharma, described in the complaint as a consultant at AIIMS Rishikesh.
Six people have been named in the case, while unidentified individuals are also under investigation.
The allegations have not been proved in court, and the ₹26 crore figure currently represents the complainant side’s estimate of the money allegedly collected from investors.
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Website allegedly showed profits that investors could not withdraw
According to the complaint, Sharma first came into contact with one of the accused in March 2020.
By February 2021, investors were allegedly being told about business operations involving luxury transportation, cryptocurrency, forex trading and other digital assets.
The complaint says they were promised attractive returns and encouraged to invest larger amounts.
Sharma alleges that he initially paid ₹3 lakh in cash in Ghaziabad on February 11.
Investors were later given digital accounts on a website identified as LPNT, where monthly profits were allegedly displayed.
The online balances reportedly created the impression that the investments were steadily increasing in value.
A dashboard showing rising profits, however, is not the same as money actually being generated or available for withdrawal.
That distinction is common in alleged investment scams, where victims may see large paper gains inside an app or website while the underlying funds are controlled elsewhere.
Dubai office allegedly used to strengthen investor confidence
The complaint says another company called The Solvers was introduced in December 2021.
Investors were allegedly taken to Dubai and shown an office there.
The complainant alleges that the overseas setup was used to convince them that the investment operation had a genuine international presence.
Several investors reportedly increased their investments after the visit.
An overseas office can be a powerful credibility tool in an investment pitch because it gives investors something physical to associate with an otherwise digital business.
But investigators will now have to establish whether the office actually belonged to the companies concerned, what activity was conducted there and whether it had any connection to the investments being solicited in India.
Victims allegedly sold jewellery and borrowed to invest
The complaint alleges that some investors committed far more than their disposable savings.
Victims are said to have sold jewellery, taken bank loans and borrowed money from relatives and acquaintances after being persuaded that the scheme would generate strong returns.
That substantially increases the harm in an alleged investment fraud.
A person who loses savings suffers a direct financial setback. Someone who invests borrowed money can be left with both the original loss and continuing loan repayments.
Police will need to examine individual payment records to establish how much each investor transferred, where the money went and whether all 175 complainants were part of the same scheme.
Website and app allegedly stopped working after May 2025
According to the FIR allegations, the situation changed after May 2025 when the company website and mobile application stopped functioning.
Investors were allegedly unable to access their accounts or view their supposed investment balances.
The complaint further claims that investor data was deleted.
That prompted demands for return of the principal and the profits previously shown on the platform.
Investigators are expected to examine server records, application data, hosting information and payment trails to determine whether the platform was deliberately shut down and whether any records can be recovered.
The exact technical infrastructure behind LPNT and the other websites has not yet been publicly established.
Threats and gunpoint intimidation also alleged
The allegations go beyond financial deception.
The complainant claims that some investors were threatened when they began demanding repayment.
It has also been alleged that certain people were taken to isolated locations and intimidated at gunpoint.
These are serious accusations and will require separate corroboration through witness statements, call records, location data, CCTV footage or other evidence.
At present, they remain allegations contained in the complaint.
Six named accused under investigation
The FIR names Satish Kumar alias Mostra, Happy Sheikh, Rovinder Singh alias Ravindra Bangar, Dev Bangar, Dharam Singh Randhawa and Naseeb.
Police have also named unidentified persons who may have been involved in collecting money, managing digital platforms or handling investor communications.
The case has reportedly been registered under provisions relating to cheating, forgery and the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
That law is relevant where money is allegedly collected through schemes that depend on circulation, enrolment or promises of returns outside permitted financial structures.
Its application in this case will depend on what investigators establish about how the alleged scheme was designed and operated.
Money trail will be central to the investigation
The most important part of the probe will be following the money.
Police are expected to examine bank accounts, cash payments, company records, digital wallets and any cryptocurrency or forex transactions linked to the accused.
They will also need to determine whether investor funds were used for genuine business activity, transferred between related entities, converted into other assets or withdrawn.
The companies mentioned in the complaint include Bloom Drive, Faviona Marketing and Ensor Infra and Developers Private Limited.
Separately, public trademark records show that an application for “A Bloom Drive” was filed by Faviona Marketing OPC in December 2019, although that by itself does not establish any wrongdoing or prove the allegations in the FIR. Quick Company
The investigation will also need to determine whether the companies named in the complaint were legally connected to each other and what role, if any, each one played in soliciting investments.
₹26 crore remains an allegation, not an established loss
The headline figure requires caution.
The complaint alleges losses of around ₹26 crore involving approximately 175 investors.
That amount has not yet been independently established through a forensic audit or court finding.
Police will have to reconcile the complainants’ claims against bank records and other financial evidence before a final loss figure can be established.
The same caution applies to the alleged Dubai office, profit dashboards and threats.
The FIR marks the beginning of a criminal investigation, not a finding of guilt.
What this means for you: Treat any investment promising unusually high or assured returns with caution, especially when profits are visible only on a private website or app. Verify the company’s regulatory status independently before investing, and do not borrow or sell essential assets solely on the strength of projected digital returns.
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