Howrah, 09 July (H.S.): The Detective Department (DD) of Howrah City Police has arrested six persons associated with Bloomwealth Brand Equity Broker Pvt. Ltd. for allegedly defrauding investors of nearly ₹16 crore by luring them with promises of doubling their investment within 25 months.

Those arrested include the company's director Sujay Kanjilal, Namita Kanjilal, Sudrisha Kanjilal, and three others. The police have taken all the accused into custody and launched a detailed investigation.

Addressing a press conference on Thursday, officials of the Detective Department said the company collected money from more than 185 investors but failed to return the promised amounts. The investigation has so far revealed a fraud of around ₹16 crore.

The police said the probe began after a victim lodged a complaint at Bantra Police Station, alleging that he had been cheated of ₹13 lakh. During the investigation, officers found that nearly 185 people had fallen victim to the same investment scheme. As many as 12 cases related to the fraud have been registered at different police stations across West Bengal.

Deputy Commissioner (DD) Rahul Mishra said the company claimed it would invest clients' money in the stock market and double their investment within 25 months. To gain investors' confidence, the company initially paid returns to some clients, encouraging them to invest more and bring in new investors. During the investigation, police seized 413 KYC documents and are identifying additional victims of the alleged fraud.

According to police, the company had been operating since 2012. It maintained offices in Chatterjeehat in Howrah, Hare Street in Kolkata, and Purba Bardhaman. Preliminary findings suggest that a large number of people from Kolkata, Howrah, Purba Bardhaman, and other parts of the state were duped through the investment scheme. Further investigation is underway.

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Hindusthan Samachar / Priyanka Pandey