Karimganj police arrest Singhaniya Group MD in multi-million loan fraud bust in Guwahati

Karimganj, Sept. 9: The Karimganj police have apprehended the managing director of Singhaniya Group, in connection with a large-scale financial fraud scheme.

The accused, Hemant Kumar Gogoi, who also owns the Pragjyotish Group, was arrested from Guwahati’s Paltanbazar on Monday.

Gogoi is accused of masterminding a fraudulent operation involving multiple money marketing companies. These companies, allegedly part of a vast scheme, deceived thousands of victims by promising loans under false pretences.

Additional SP Pratap Das of Karimganj confirmed that the fraudulent company collected Rs 2,000 from approximately 2,000 individuals, promising them loans of Rs 25,000.

"Following the raid, our investigations led to the arrest of Gogoi in Guwahati. Gogoi faces five pending cases in Meghalaya, adding to the gravity of the charges against him. A case has been registered under sections 120(B), 420, 406, 409, and sections 21(1), 21(2), and 21(3) of the Banning of Unregulated Deposit Schemes Act," Das told The Assam Tribune.

Das also added that several cases against Pragjyotish Group are also pending in Cachar and Hailakandi districts.

The arrest follows a recent police raid on Singhaniya Fintech Acquisition Company, located in the Sarisha area of Silchar Road, Karimganj.

During the raid, police had seized several incriminating documents and arrested Rahul Roy, the district coordinator for the group, and another individual managing the office.

The Singhaniya Group's network extends throughout Assam, with ongoing investigations aimed at uncovering the full scale of the financial scam.

The police continue to work diligently to expose the breadth of the fraudulent activities and provide justice to the affected victims.