Gorakhpur | Economic Crime Bureau Desk: “Invest today, earn tomorrow…” — this was the promise that lured more than 500 unsuspecting investors into one of eastern Uttar Pradesh’s biggest financial frauds in recent years.
The company, Trade Aastha Infra Promoters Pvt. Ltd., operating from Khajanchi Chowk in Shahpur, collected nearly ₹200 crore by promising guaranteed, high returns on “safe” infrastructure and trading ventures.
But when it was time to pay back, the office was locked, the directors vanished, and phone lines went dead. Dozens of victims approached the Shahpur police, alleging that the company initially paid small profits to build trust — before defaulting entirely on both principal and interest.
The Pitch: “Guaranteed Returns” Between ₹6 Lakh and ₹30 Lakh Investments
Investors from several cities, including Lucknow, Shahjahanpur, and Varanasi, told police they were assured “safe and assured profits.”
Ram Naresh Yadav, a resident of Dalibagh in Lucknow, said,
“Over 500 of us invested between ₹6 lakh and ₹30 lakh each. When we went to collect our money, the office was shuttered and every director’s phone was switched off.”
Police sources said the company promised profits from infrastructure projects and trading operations, but no legitimate business activity was ever found.
Police Action: Gangster Act Proceedings Under Way
According to SP (City)
“Several more complaints have surfaced against the company. Cases of fraud have been registered not only in Gorakhpur but also in Lucknow and other districts.
The accused directors will also face proceedings under the Gangster Act.”
A Sprawling Network: Chain-Marketing Operations Across Bihar and Jharkhand
Investigations revealed that CMD Vishwajit Srivastava, the alleged mastermind, expanded his operation beyond Gorakhpur, setting up a multi-level marketing network that reached neighbouring districts, Bihar, and Jharkhand.
Srivastava, a resident of Rail Vihar Phase-1, Gulriha, founded Trade Aastha Infra in 2016, aggressively marketing “low investment, high return” plans through word of mouth, WhatsApp groups, and promotional events.
Past Cases: ₹1.24 Crore Fraud Registered in Lucknow
Police records show that a prior ₹1.24 crore cheating case was already filed against the same directors in Lucknow’s Crime Branch station.
In that case, Mahendra Kumar Mishra, a businessman from Shahjahanpur’s Roja area, accused Vishwajit Srivastava, his wife Chanda Srivastava, and associates Naveen Chandra, Meenakshi, Harkesh, Sonu Gupta, Rahul, Sudama Kushwaha, and Chandan Sharma of defrauding investors through fake share-trading schemes.
Mishra and his associates together lost over ₹120 lakh, with individual investments ranging from ₹5 lakh to ₹55 lakh.
Spot the Scam: How to Identify Fraudulent Trading Firms
Financial experts recommend investors follow strict due diligence before investing:
- Avoid schemes promising “double or triple returns.”
- Always verify that the firm is licensed by SEBI or other regulatory bodies.
- Legitimate companies disclose investment risks; fraudsters only emphasize benefits.
- Never rely solely on verbal promises — insist on written contracts and documented agreements.
- Check if prior complaints or court cases exist against the company before investing.
Analysis: A Warning Sign in India’s Expanding Digital Investment Trap
Experts say this case is emblematic of the fast-growing epidemic of unregulated investment fraud spreading across India’s smaller towns. With the rise of social media-driven financial marketing, even semi-urban and rural investors are being drawn into get-rich-quick traps.
A senior cybercrime officer commented,
“Investment frauds are no longer confined to metropolitan areas. Scammers are exploiting both greed and trust. The only real defense is awareness — and strong enforcement.”
