Srinagar, March 29 -- According to reports, the accused were running a company named 'The Loni Urban Multistate Credit and Thrift Cooperative Society Limited,' which promised villagers lucrative returns on their investments. Agents of the company allegedly lured hundreds of people by assuring them that their money would double in a short span. However, after collecting crores from unsuspecting villagers, the company reportedly shut down operations and fled the district. The fraudulent scheme had been operational in Mahoba for the past ten years before coming under legal scrutiny.

Authorities have registered a case at the Srinagar police station, and an investigation is underway to uncover the full extent of the scam. Further action will ...