A major financial fraud involving an informal neighborhood savings scheme has come to light in the Kota district of Rajasthan, leaving numerous families in financial distress. The incident occurred in Bajrangpura, situated in the riverbank area under the jurisdiction of the Kunhadi police station. Over 50 affected residents gathered at the local police station to submit formal complaints against the operator of the scheme. According to the victims, they had been regularly depositing their hard-earned money into this committee over an extended period. However, the operator abruptly halted all payouts, leaving contributors empty-handed. The total defrauded amount is estimated to exceed 80 lakh rupees, prompting the police to launch a detailed probe into the matter.
Community Trust Used to Solicit Deposits
According to the complaints lodged with the police, Purushottam Tiwari, a resident of Bajrangpura, had been managing the informal committee scheme in the neighborhood. Relying on personal acquaintance and trust, many local families deposited their savings with him on a routine schedule. During the early phases, the scheme operated without noticeable issues, reinforcing the belief among participants that their funds were secure and would be returned with maturity benefits as promised. Encouraged by this initial reliability, several people continued contributing significant portions of their household savings. Trouble began when the operator started facing difficulties in disbursing payments and eventually stopped returning deposits altogether.
Promised Repayment After Property Sale Ended in Disappearance
When the contributors began demanding their money back, Purushottam Tiwari reportedly assured them that he would clear all outstanding dues by selling his residential house. Local accounts indicate that the property was indeed sold off, but none of the victims received their deposited funds even after the sale was completed. This heightened suspicion among residents, who soon realized that they had been deliberately misled. When they attempted to confront the operator, they discovered that Tiwari and his wife had disappeared from the area. With both individuals missing, the victims recognized the extent of the fraud and gathered in large numbers at the Kunhadi police station to seek official intervention.
Middle-Class Households Suffer Heavy Losses
The alleged financial deception has dealt a severe blow to multiple households across the locality. Many contributors were from working-class backgrounds who had set aside a few thousand rupees each month from their daily earnings, while others had invested larger lump sums according to their financial capacity. One of the victims, Durgashankar, explained that multiple people had been putting their money into the committee for a prolonged duration with the legitimate expectation that their funds would be returned on schedule, but those payments have now dried up completely. Another resident, Saurabh Chawla, also reported the loss of his deposits. The affected individuals have urged the police to track down the operator and help them recover their stolen savings.
Kunhadi Police Launch Detailed Investigation
Following the complaints, the Kunhadi police have initiated an official inquiry to uncover the full scope of the fraudulent scheme. Law enforcement officials are working to gather details regarding the whereabouts of Purushottam Tiwari, his wife, and any associates who may have been involved in the operation. Furthermore, investigators are examining the records to determine the exact number of contributors and the total monetary value of transactions handled by the committee. Authorities stated that a precise assessment of the swindled amount will become clear as the investigation progresses. As of now, initial complaints from more than 50 individuals point to a misappropriation exceeding 80 lakh rupees.
