Pratapgarh. Police have arrested an absconding accused in connection with an alleged ₹53.90 lakh fraud involving a microfinance company. The accused has been identified as 29-year-old Santosh Kumar Yadav. According to police, he was arrested near Bhiti village on the Chanda-Kadipur Road in Sultanpur. Further legal action has been initiated following his arrest.
The case is linked to the Dhakwa branch of Aashirwad Micro Finance Limited. According to the allegations, between March 8, 2025, and June 26, 2025, documents linked to 138 members from 18 villages were allegedly manipulated and funds were misappropriated. The complaint states that the company suffered a financial loss of around ₹53.90 lakh in the alleged fraud.
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A case was registered on September 17, 2025, following a complaint by the company’s regional manager. The FIR named branch manager Ved Prakash Srivastava, deputy branch manager Kaustubh Upadhyay, field staff members Siddharth Yadav and Suraj Kumar Saroj, and Santosh Kumar Yadav, along with several outside brokers.
According to police, the accused allegedly misused documents belonging to members associated with the microfinance company. They are accused of preparing forged documents and carrying out financial transactions in the names of members, after which the funds were allegedly misappropriated. Santosh Kumar Yadav had reportedly been absconding in the case for a considerable period.
During the search for the accused, police monitored his suspected locations and movements. Investigators subsequently received information that he was present in the Chanda area of Sultanpur. A police team then surrounded the area near Bhiti village on the Chanda-Kadipur Road and arrested him.
Investigators are also examining the alleged roles of the other accused and outside brokers in preparing the forged documents and misappropriating the funds. Police are investigating the activities of the other named or absconding accused as well as the financial transactions linked to the case.
According to police officials, further action will be taken based on the accused’s interrogation. Investigators are also trying to determine how the allegedly forged documents prepared in the names of 138 members were used and where the ₹53.90 lakh involved in the case was ultimately transferred.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
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