Lucknow: In yet another case of financial fraud in the state capital, a businessman from Gomti Nagar has allegedly been cheated of ₹5 lakh on the pretext of securing a ₹5 crore business loan. The accused reportedly cut off all communication soon after the amount was transferred. A case has been registered and efforts are underway to trace the named individuals.
The complainant, Shailendra Kumar Singh, a resident of Awadh Apartment in Gomti Nagar, stated that he was acquainted with Alok Diwan. On March 1, Alok Diwan approached him with an offer to arrange a ₹5 crore loan for his company at a comparatively low interest rate. To build credibility, the accused reportedly cited banking procedures, approval timelines and details of a supposed financier.
Processing Fee Demand and Transfer of Funds
According to the complaint, Alok Diwan demanded a 1% processing fee before the loan could be sanctioned. He assured Singh that once the amount was deposited, the loan file would move to “final approval.” Trusting the proposal, the businessman transferred ₹5 lakh from his company’s bank account to the account specified by the accused.
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Fake Documents Sent Before Communication Ceased
Soon after receiving the payment, the accused sent certain loan-related documents via WhatsApp, including what appeared to be an approval letter and terms and conditions. However, within hours, communication ceased. Calls went unanswered and messages remained unreplied. By March 2, the phone number was found switched off, raising suspicion.
Police Begin Digital and Financial Trail Investigation
Upon verifying the bank transaction and reviewing the documents, Singh realised he had been duped. In his complaint, he alleged that two other individuals — KP Singh and Kunal — were also involved in the conspiracy along with Alok Diwan. The trio allegedly orchestrated the fraud by demanding the processing fee and forwarding fabricated documents to create an impression of legitimacy.
Based on the registered complaint, investigators have initiated scrutiny of the bank accounts linked to the transaction, mobile numbers used in the communication and the digital trail associated with the accused. Preliminary findings suggest that the bank account in which the ₹5 lakh was deposited had been opened recently. After limited activity, the funds were reportedly transferred onward to other accounts, indicating a possible layered transaction pattern.
Technical analysis is being carried out to track the movement of funds and identify the ultimate beneficiaries. Surveillance inputs are also being examined to ascertain the current location of Alok Diwan and his associates.
Named accused Alok Diwan, KP Singh and Kunal remain at large. The complainant has been asked to provide detailed bank statements and transaction IDs to aid further investigation and potential recovery of funds.
The incident has triggered concern within the city’s business community. Professionals advise entrepreneurs to independently verify loan offers directly with banks or registered NBFCs before transferring any advance payment. For now, the probe is focused on digital evidence and banking trails as authorities intensify efforts to apprehend the accused.
