Fake Finance Scam: Wanted Accused Murad Ali Nabbed in Gonda
Gonda police arrest Murad Ali for running a fake finance company scam, swindling victims out of over Rs 3 lakh with fake loan promises.
In a significant breakthrough, the Kaudia police in Gonda have arrested a wanted criminal, Murad Ali, who allegedly orchestrated a sophisticated fraud scheme. Operating through a fictitious finance company, Ali and his associates swindled innocent people out of a total of Rs 3,24,900 by promising easy loans with low interest rates.
The Trap: How the Scam Unfolded
The fraudulent operation began in 2023 when Murad Ali targeted Rahul Kumar Mishra, a resident of Bhairampur village. The two first met at the Bangai Kaudia railway station, where Ali convinced Mishra to join his venture as an agent. The goal was simple: recruit more people who were in need of financial assistance.
Believing the legitimacy of the business, Mishra began recruiting others. The scam was executed in two phases to extract maximum money from the victims:
- File Charges: Mishra collected Rs 4,500 from 25 different individuals, amounting to Rs 1,12,500.
- Insurance Premiums: Another 12 people were charged Rs 17,700 each for supposed insurance premiums, totaling Rs 2,12,400.
Fake Documents and Broken Promises
To make the operation look authentic, the fraudsters issued professional-looking documents to the victims. These included joining letters, identification cards, and offer letters. However, despite the payments and the paperwork, the promised loans never materialized.
The situation took a dark turn when the victims realized they had been cheated. Instead of receiving their money back, those who demanded refunds were allegedly met with threats from the accused.
Following the Money Trail
Police investigations revealed that out of the total Rs 3,24,900 collected, Rs 86,000 was deposited directly into Murad Ali's account at Union Bank. The remaining sum of Rs 2,38,900 was handed over to Ali's associates, identified as Arman (also known as Asif) from Jalalpur, Meerut, and Shifa, during a company meeting held in Bhairampur village on September 29, 2023.
The Arrest and Legal Action
After a period of evasion, Murad Ali—a native of Hapur district currently residing in Moradabad—was tracked down. He was arrested on October 29, 2026, near Colonelganj Tehsil by a police team comprising Sub-Inspector Golu Kumar Tiwari and Head Constables Kamlesh Yadav and Balwinder Singh.
During interrogation, Ali confessed to running the scam alongside Arman and Shifa. He has now been presented before the court and faces several serious charges under the Indian Penal Code (IPC), including:
- Section 419: Punishment for cheating by personation.
- Section 420: Cheating and dishonestly inducing delivery of property.
- Sections 467, 468, 471: Forgery of valuable security and using forged documents.
- Sections 504, 506: Intentional insult and criminal intimidation.
- Section 120B: Criminal conspiracy.
The case has been registered under case number 224/2024 at the Kaudia police station as investigations continue to track down the remaining accomplices.