Ludhiana, Punjab: Police in Ludhiana have registered cases against five individuals in connection with two separate alleged investment frauds involving a combined amount of ₹3,29,96,110. The accused allegedly persuaded investors to invest by promising exceptionally high returns but later failed to deliver either the promised profits or the principal amount. Investigators have launched a detailed probe into the financial transactions, bank records and investment-related documents to determine the flow of funds and establish the extent of the alleged fraud.
The first case was registered by the Jodhewal Police Station following a complaint by Inderjit Singh, a resident of Omaxe Township, Ludhiana. According to the complaint, Sifat Singh, Lakhwinder Singh and Harmeet Kaur allegedly acted in concert to convince him and his son, Jagmohit Singh, to invest by assuring them of attractive and secure returns. The complainant alleged that the trio induced them to invest ₹19.96 lakh, but neither paid the promised returns nor refunded the principal amount. After a preliminary inquiry, police registered an FIR against the three accused under sections relating to criminal breach of trust, cheating and criminal conspiracy.
The second case pertains to the Dugri Police Station area, where complainant Manjit Singh, a resident of EBRS Nagar, alleged that Sanjay Ahuja and Harshita Ahuja, who are reportedly associated with an investment company, persuaded him to invest ₹3.10 crore between 2020 and 2024 by promising substantial returns. According to the complaint, despite repeated assurances, the accused neither paid the agreed profits nor returned the invested capital after the maturity period. Police have registered a case against both individuals on charges of cheating and criminal breach of trust.
Investigators said they are examining bank accounts, investment agreements, payment records, electronic evidence and other financial documents linked to both cases. They are also attempting to determine how the allegedly collected funds were utilised and whether the money was transferred through multiple accounts to conceal its trail. If required, information will also be sought from financial institutions and regulatory authorities as part of the investigation.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said investment fraudsters often spend considerable time building trust before persuading victims to invest substantial sums. In many such cases, fraudsters initially provide returns to a few investors to establish credibility before allegedly stopping payments once larger investments have been secured. He advised investors to independently verify a company’s registration, regulatory compliance, financial credentials and legal standing before investing.
According to the Future Crime Research Foundation (FCRF), investment frauds increasingly rely on social engineering, false profit projections and trust-based financial deception rather than sophisticated technical methods. The organisation advises investors to deal only with authorised and regulated financial institutions and to remain cautious of schemes promising unusually high or guaranteed returns with little or no risk.
A researcher at Algoritha Security said detecting investment fraud requires detailed analysis of financial transactions, digital communications and suspicious payment patterns. The researcher noted that AI-driven risk assessment, behavioural analytics and real-time fraud monitoring can help identify irregular financial activity at an early stage, reducing the likelihood of significant investor losses.
Police said both investigations are ongoing and further legal action will depend on the evidence collected. If investigators uncover the involvement of an organised financial fraud network or additional accomplices, more charges may be added and further arrests could follow. Authorities have also urged the public to verify the legitimacy of any investment opportunity before committing funds and to invest only through authorised and regulated entities.
