A series of major financial fraud cases in Lucknow has once again highlighted the growing threat of cyber and economic crimes. While multiple traders were cheated of lakhs of rupees in separate incidents, the biggest case involves a fraud of over ₹13 crore allegedly committed against the son of a retired IAS officer.
The cases indicate the use of fake companies, false investment promises, and corporate-style deception to trap victims.
In the first incident, traders in the Naka Market area of Lucknow were allegedly cheated of around ₹50 lakh. Two individuals from Rajasthan, identified as Kanaram Manaram Choudhary and Dheeraj Khemram, started a computer trading business in the market and gradually gained the trust of several shopkeepers. They later took computer goods on credit from nearly 35 traders and disappeared after shutting down their showroom without making payments. A formal complaint has been registered by the affected traders.
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Plot Deal Cheating Case in Mahanagar
In a second case, allegations of cheating worth around ₹10 lakh have been made by an SSB Sub-Inspector, Dinesh Kumar Mishra, a resident of Mahanagar. He stated that MG Builder Developers, located in Vibhuti Khand, offered him a plot of land and entered into a deal in 2015. The complainant claimed that he paid the entire amount between 2015 and 2019, but the property was never registered in his name despite repeated assurances.
The most serious case involves a large-scale financial fraud in Vibhuti Khand-6, where Krishna Pratap Singh, son of a retired IAS officer, was allegedly cheated of more than ₹13 crore. According to the complaint, the accused introduced themselves as directors of companies including Apex India Consortium Private Limited and others, and offered a 50% partnership in a pharmaceutical business.
Pharma Partnership Trap in Vibhuti Khand
They also allegedly collected funds under the pretext of distribution rights, licensing transfers, and corporate expansion deals. The victim stated that the transactions took place between 2022 and 2024 in multiple instalments, amounting to over ₹13 crore. In return, the accused issued cheques and signed an agreement claiming repayment through RTGS, but no money was ever returned.
It has further been alleged that the accused convinced the victim by promising to appoint his retired IAS father, Rajendra Singh, as the chairman of the company, and extracted an additional ₹2.58 crore on this basis. When the victim demanded his money back, he was allegedly threatened and warned by the accused, who claimed links with notorious criminal elements.
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The case has raised concerns that it may not be an isolated fraud but part of a larger organized financial scam network involving fake companies and structured investment fraud schemes. Investigators believe that the accused used corporate setups, fabricated identities, and high-return promises to gain trust and siphon off large sums of money.
Experts say such frauds typically follow a pattern where criminals first build credibility, then lure victims through business partnerships and high-return investment offers, before gradually diverting large amounts of money. With increasing digital and financial transactions, such cases are becoming more frequent and complex.
Authorities are currently investigating all related cases, examining bank transactions, company records, and the involvement of accused individuals. The incidents have once again highlighted the urgent need for stronger verification mechanisms and public awareness to prevent investment and partnership-based frauds in the future.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
