Patna: What began as a kidnapping-for-ransom case in Patna has turned into a financial fraud investigation after police uncovered a money-doubling racket run under the guise of Radha Damodar Enterprises. The case came to light when the firm’s manager, Sachin Kumar, was abducted from his office and held hostage for three days by investors demanding the return of their money.
Investors Claim Fraud, Admit to Kidnapping for Recovery
According to the police, the kidnappers told investigators that they had invested lakhs of rupees in the company after being promised that their money would double within a few hours. “We invested money by selling our wives’ and ancestral jewelry. They lured us with the promise of doubling it. When we couldn’t contact them or get our money back, we kidnapped Sachin,” one of the accused reportedly told police during interrogation.
The group held Sachin hostage in a hotel in Patel Nagar, under Shastri Nagar police station limits, and demanded ₹50 lakh from his family for his release.
Kidnapping and Rescue Operation
Sachin Kumar, who worked as a manager at Radha Damodar Enterprises in Patna’s Digha area, was abducted along with two associates from his office. They were taken to the hotel in Patel Nagar, where Sachin was allegedly beaten and tortured for money.
His family lodged a complaint with Shastri Nagar Police Station on September 30 after receiving distress calls from Sachin. Acting swiftly, the police formed a special team comprising the Special Cell, STF, and local police units. The mobile location of the phone used by the kidnappers was traced to the hotel.
Once the location was confirmed, police surrounded the building and raided it, rescuing Sachin and arresting his captors. The DIG of STF reached the spot and began interrogating both sides, which led to the revelation of a large-scale financial scam.
A Web of Deceit: The Money-Doubling Scam
During questioning, the kidnappers—identified as Subhash Mandal and his associates—claimed that they had collectively invested around ₹50 lakh in the company. They said Sachin had personally taken the money, provided receipts, and promised to return double the amount within three hours. “He even packed the cash in a suitcase and said it was being sent to process the doubling. But after that, we couldn’t reach him,” one of them said.
Manager’s Confession: Job Offered Through Delhi Contact
Sachin Kumar, in his statement, admitted he was working as a manager for a monthly salary of ₹40,000. He joined the company on September 24 after being contacted by a man named Deepak in Delhi, who offered him a job in Patna. Sachin said that Radha Damodar Enterprises already had a presence in Bihar and operated through agents who brought in clients to invest in the money-doubling scheme.
“I handled clients who wanted to double their money. When the payments didn’t arrive, they came looking for me,” Sachin told police. He listed his current address as Noida, Uttar Pradesh, and said he had limited contact with Deepak and other associates after joining the firm.
₹50 Lakh Still Missing, Search Expands to Other States
Law and Order DSP Muhibullah Ansari confirmed that investigations are ongoing. “The 50 lakh rupees allegedly handed over to Sachin have not been recovered yet. We are trying to identify the people behind this racket,” he said.
Police teams from the STF and Special Cell are now tracking leads in Patna and outside Bihar to trace the missing funds and the masterminds of the fraudulent enterprise.
Officials suspect that Radha Damodar Enterprises is part of a larger interstate scam network targeting investors with fake promises of quick financial returns.
