Bihar: Fraudulent Microfinance Company Swindles 300 Women of Nine Lakh Rupees

CHHAPRA – A fraudulent microfinance company operating near Nevaji Tola Chowk in the outskirts of the city successfully duped approximately 300 women, absconding with a total of nine lakh rupees. The scam unfolded near a suburban police station, where con artists, disguised as a microfinance company, made false promises of loans to unsuspecting victims.

Upon discovering the deception, the affected women staged a protest near the company’s office, leading to a temporary roadblock. Subsequently, they filed a formal complaint with the local police station, seeking justice for the financial fraud they fell victim to.

Chandravati Devi and Kamalavati Devi, two of the victims, disclosed that an imposter posing as a benevolent microfinance company employee managed to form a group of 15 women through deceptive means. These women were assured loans but were instead tricked into paying 3,000 rupees each, with the promise of a 70,000 rupee loan. Despite reassurances, the promised transactions failed to materialize, leaving the women distressed and in search of answers.

Anger escalated among the victims when the landlord disappeared after locking their rooms. The ensuing protest near Nevaji Chowk disrupted traffic temporarily. The rural police intervened, calming the agitated women, and a formal complaint was lodged.

The police have assured that a thorough investigation is underway, focusing on identifying the instigators and collecting pertinent information.