Agra: Hundreds of residents of Aligarh, including employees and faculty members of Aligarh Muslim University (AMU), were allegedly duped in an investment scam linked to a private firm operating under multiple names, police said.
Cases Registered
Three cases have been registered so far under relevant sections of the BNS, including section 318(4) related to cheating, at the Civil Lines police station against the main accused, Junaid Ahmad, who is absconding.
How the Scam Unfolded
Police said the alleged fraud came to light after several victims claimed they were lured into investing large sums with promises of high monthly returns through firms operating from Landmark Mall on Marris Road in Aligarh.
According to one complaint, a victim paid Rs 25 lakh in cash and later handed over three cheques of Rs 25 lakh each after being promised lucrative returns. The accused allegedly switched off their mobile phones, shut the office, and disappeared.
Another complainant, Tariq Husain, a former AMU employee, alleged that he lost Rs 15 lakh after investing in the scheme last year.
Wider Impact
Social activist and advocate Shahid Ali Khan claimed that more than 200 people, many associated with AMU, were cheated in the alleged scam. “Dozens of victims have approached me with similar complaints. I have a list of over 200 people. Many invested their savings after being promised huge profits,” he told TOI on Saturday.
Nazrul Hasan, a clerk at AMU Medical College, said he invested Rs 6 lakh in 2024 but has since lost contact with the company representatives. Victims suspect the accused fled abroad after allegedly collecting crores of rupees from investors.
Police Investigation
Civil Lines SHO Arun Kumar told TOI, “We have received three complaints from different persons, and cases have been registered. Further investigation is underway, and action will be taken accordingly.”
