Police in Uttar Pradesh’s Sant Kabir Nagar district have arrested four people in connection with an alleged ₹90 lakh fraud involving promises of financial assistance to poor and needy people. The arrested accused include a former branch manager of a financial institution, a bank mitra and two Pragati mitras. According to the police, the accused allegedly used the promise of arranging financial assistance through a trust to facilitate fund transactions and later misappropriated around ₹90 lakh belonging to the company.
The case relates to the Mahuli police station area. According to the police, a case was registered on February 21, 2026, following a complaint by a regional manager of Pragati Finserv Private Limited against former branch manager Abhay Kumar Tiwari and others. The complaint alleged that a process was being operated in the name of providing financial assistance to poor and needy people through a trust and that around ₹90 lakh of company funds was subsequently allegedly misappropriated.
Former Branch Manager, Bank Mitra Among Four Arrested
After the case was registered, police began tracing the accused and gathering information about their possible locations and activities. Teams subsequently conducted raids at different locations and arrested all four accused.
The arrested accused have been identified as Abhay Kumar Tiwari, a resident of Ballia; Virendra, a resident of Fatehgarh; Shiv Verma, a resident of Basti; and Akram Hussain, a resident of Siddharthnagar. According to the police, Tiwari was working as the branch manager at the time, while Virendra worked as a bank mitra. Shiv Verma and Akram Hussain were associated with the company as Pragati mitras.
Police said the four accused were produced before a court following their arrest and were subsequently sent to judicial custody.
Allegedly Went Into Hiding After Case Was Registered
According to the investigation, the accused approached the High Court seeking relief from arrest after the case was registered. Police said that after they failed to obtain relief, the accused allegedly went into hiding at different locations to avoid arrest.
Investigators subsequently gathered information about their possible whereabouts and conducted raids. The police are now trying to establish how the company’s funds were allegedly diverted and determine the individual role of each accused in the alleged financial irregularities.
Police Say Accused Admitted Working for Company
According to the police, during questioning, the accused stated that they had previously worked with Pragati Finserv Private Limited Bank’s Mukhlispur branch. The alleged irregularities involving company funds surfaced during this period, following which the case was registered.
Investigators are questioning the accused about their respective roles, financial transactions and the alleged financial assistance scheme. Police are also examining how many people were contacted in the name of providing financial assistance and the total amount of money that was transacted during the process.
Cyber Crime Expert Warns Against Financial Fraud
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said that people should independently verify any scheme claiming to provide financial assistance, investment opportunities or government benefits before sharing documents or transferring money.
According to him, requests to deposit money into personal or private bank accounts, share sensitive documents or make immediate payments in return for promised financial benefits should be treated as major warning signs. Financial institutions and their representatives should also be verified through official channels before any payment or transaction is made.
Police Focus on Financial Trail
The police are also focusing on the alleged ₹90 lakh financial trail. Investigators are trying to determine which accounts received the funds, who facilitated the transactions and who ultimately benefited from the alleged diversion of company money.
Police are also examining whether people other than the four arrested accused were directly or indirectly involved in the case. Company records, banking transactions and other documents are being analysed to establish the alleged chain of financial irregularities.
According to the police, further legal action will be based on questioning of the accused and evidence emerging from financial records and other documents. The four accused have currently been sent to judicial custody.
