RAIPUR: A young man with a Class 6 education, presenting himself as a market-savvy investment adviser, built trust through small payouts and steady promises—until the money stopped, the victims multiplied, and the police closed in.
A Promise of Market Expertise
In 2021–22, Amit Das, a resident of Pandri in Raipur, was introduced to Kuldeep Bhatpahari, who projected himself as an investment adviser linked to the share market, IPOs and major exchanges. According to the police complaint, Bhatpahari claimed familiarity with platforms such as NSE, MSEI and CDSL, and spoke confidently about trading in shares and cryptocurrency.
Investigators say the assurances were delivered with precision: a promise of higher returns, framed as a “monthly K.B. plan,” and an emphasis on steady income rather than quick windfalls. For Das and others, the language of markets—paired with early signs of credibility—proved persuasive.
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Trust Built Through Early Returns
Police records indicate that Bhatpahari initially paid out monthly interest to some investors, reinforcing confidence in the scheme. These early returns encouraged more people to come forward with money, both online and in cash. Amit Das and his brother alone are alleged to have handed over about ₹15.60 lakh.
Over time, the circle widened. By the police’s count, 26 people invested funds after hearing of consistent payouts and apparent profits. The amounts varied, but together they added up to more than ₹1.35 crore, investigators said. Victims later told police that Bhatpahari described himself as a share market “expert,” stressing experience rather than formal credentials.
The Disappearance and the Hunt
In December 2024, according to the complaint, Bhatpahari abruptly went missing. Payments stopped. Calls went unanswered. As concerns grew, victims approached the Pandri police station, triggering a formal case.
Police teams began tracing digital and financial trails, using technical analysis, local intelligence and repeated searches. Officers said the accused remained on the run for an extended period before being tracked down. A joint operation by the Anti-Crime Unit and Pandri police ultimately led to his arrest.
During questioning, police said, Bhatpahari admitted to targeting 26 people in a similar manner and collecting approximately ₹1.35 crore. A computer system, a laptop and two mobile phones—devices allegedly used in the fraud—were seized from his possession.
A Pattern Under Scrutiny
Police records show that this was not Bhatpahari’s first encounter with law enforcement. He had previously been jailed in a similar cheating case registered at Tikrapara police station. Investigators now believe the current case may extend beyond the victims already identified.
The matter falls under the jurisdiction of Pandri police station in Raipur. Officials said the investigation is continuing, with efforts focused on identifying additional victims, tracing fund flows and determining whether the operation involved others. For now, the seized devices and statements form the backbone of a case that police say could yet grow in scope.
