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Over a Dozen Women Allege ₹10 Lakh Microfinance Fraud in Khowai

National Spectrum by National Spectrum
5 months ago
in Political, Regional
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Over a Dozen Women Allege ₹10 Lakh Microfinance Fraud in Khowai
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At least a dozen women have lodged a police complaint in Khowai district alleging that a couple defrauded them of nearly ₹10 lakh collectively by promising unusually high returns on their investments. The complainants claimed they were assured that their money would double within a year, but the accused allegedly disappeared after collecting the funds.

According to local sources, the accused have been identified as Biswajit Pal and his wife Sabita Rudra Pal, residents of Durganagar in Khowai district. The couple reportedly approached villagers posing as officials of a newly launched microfinance company. They are said to have conducted extensive door-to-door campaigns and small group meetings in the locality to promote their investment scheme.

The victims alleged that the couple promised returns ranging from one-and-a-half times to double the principal amount within a year. They reportedly assured investors that valid documents and certificates would be issued immediately after the deposits were made, thereby gaining the trust of the local community.

Police officials stated that the accused primarily targeted economically weaker families and women, persuading them with promises of quick and substantial profits. Many of the complainants claimed they invested their hard-earned savings, while some even borrowed money from relatives and self-help groups in the hope of improving their financial situation.

However, when the investors later sought official documentation or inquired about repayment schedules, the couple allegedly began evading them. Over time, their responses became irregular, and they eventually went incommunicado. Suspecting foul play, the victims tried repeatedly to contact them but reportedly found their residence locked.

With no response forthcoming and mounting anxiety over their lost savings, the women approached the Khowai police station on Tuesday evening and submitted a written complaint alleging financial fraud.

“We have received a complaint from several women alleging that they were cheated through a false investment scheme. A case has been registered, and an investigation is underway,” a police officer said. He added that efforts are ongoing to trace the accused, who are currently absconding.

The incident has caused concern among residents in the area, particularly among vulnerable sections who were lured by promises of quick financial gains. Police have urged people to exercise caution and verify the credentials of any financial institution before making investments.

Further investigation into the matter is in progress.

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