Patna, October 6 (Daily Kiran) : In Patna, police have arrested Shridhar Pathak in connection with an alleged fraud involving ₹4 crore. The accused promised investors double returns through share market investments. However, it is claimed that the funds collected were not used for their intended purpose and were instead diverted elsewhere.
Pathak, originally from Nalanda district, had reportedly fled Patna before his arrest. Assistant Superintendent of Police (Law and Order) Krishna Murari Prasad stated that a complaint was filed at the Kotwali police station a few months ago, detailing the financial transactions and alleged fraud.
The investigation revealed that the money was solicited for investment, but the promised returns were not delivered. Instead, some checks issued in return bounced. The accused had assured investors that their money would be invested in the share market to generate profits.
After issuing a notice for questioning, police discovered that Pathak had also taken money from several other individuals in a similar manner. Following this revelation, authorities obtained a warrant for his arrest. During interrogation, significant information came to light, prompting further investigation.
Prasad noted that as the case involves substantial financial transactions, other departments dealing with economic crimes, including the Income Tax Department, will be notified to ensure a thorough investigation. The police are actively examining the origins of the funds, their utilization, and the relationships linked to the transactions. As new information and applications continue to emerge, the investigation is expanding.
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