Bareilly | Police in Uttar Pradesh’s Bareilly district have intensified efforts to arrest alleged investment fraudster Kanhaiya Gulati, announcing a reward of ₹25,000 for information leading to his capture. Investigators claim Gulati spent nearly two decades allegedly deceiving investors by promising to double their money and offering unusually high returns, resulting in losses worth several crores of rupees.
According to police officials, a total of 64 cases involving fraud and financial crimes have been registered against Gulati across various police stations in the district. Courts have reportedly issued warrants against him in multiple cases. To strengthen efforts to locate him, authorities have also issued a lookout notice to monitor any potential movement within or outside the country.
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Investigators allege that Gulati attracted investors by assuring them of extraordinary profits within a short period. Many individuals reportedly invested their savings after being convinced that their money would generate guaranteed and rapid returns. Police claim that after collecting substantial amounts from investors, the accused disappeared without repaying them.
Authorities are now attempting to determine the full scale of the alleged fraud, including the total number of victims and the overall financial losses involved. Officials believe additional complainants may still come forward as the investigation progresses.
A special operation has been launched to trace the accused. Police have formed dedicated teams under the supervision of senior officers, and raids are being conducted at suspected locations linked to Gulati. Investigators are also examining his associates, financial transactions and communication networks to identify individuals who may have assisted him or benefited from the alleged scheme.
Police said the investigation is not limited to securing Gulati’s arrest. Efforts are also underway to recover funds for victims. Authorities are collecting details of his movable and immovable assets, including bank accounts, investments, business interests and financial dealings involving relatives or close associates. If evidence indicates that properties were acquired using proceeds of the alleged fraud, legal action may be initiated to attach or seize those assets.
Officials have appealed to members of the public who believe they may have been victims of the scheme to come forward and file formal complaints. Investigators believe some affected individuals may not yet have reported their losses due to social stigma or concerns about legal proceedings.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said promises of guaranteed or unusually high investment returns are often among the earliest warning signs of financial fraud. According to him, fraudsters frequently rely on trust-building tactics, initial payouts and personal networks to attract larger numbers of investors. He advised the public to independently verify the legitimacy, regulatory approvals and financial background of any investment scheme before committing funds.
Police indicated that if Gulati is not arrested soon, a proposal may be sent to higher authorities to increase the reward amount. Despite dozens of criminal cases and allegations involving crores of rupees, the accused has remained beyond the reach of law enforcement, making the case a significant challenge for investigators.
As the manhunt continues, attention is now focused on whether the special investigation teams can successfully locate and arrest the accused, and whether victims will ultimately be able to recover at least part of their lost investments.
