The investigation into the alleged ₹1,000 crore Ponzi scam linked to the Canwinn/Canwiz Group has taken another turn, with the 102nd FIR being registered against its alleged mastermind, Kanhaiya Gulati. The latest case has been filed at Bithri Chainpur police station in Bareilly, Uttar Pradesh, following the intervention of a court.

Gulati, who is accused of cheating thousands of investors by promising to double their money in just 22 months, remains absconding. The latest complaint involves an alleged fraud of ₹75 lakh involving a family of three. His wife, Radha Gulati, and a company agent have also been named in the case.

How Did the Family Allegedly Lose ₹75 Lakh?

According to the complaint, Pramod Kumar, his brother Pradeep and their mother Dularo Devi, residents of Mohanpur village in Bithri Chainpur, came into contact with Kanhaiya Gulati through Harendra Prakash Patel, an agent from Izzatnagar.

Gulati allegedly introduced them to an investment scheme promising to double their money within 22 months. To gain their confidence, he reportedly provided a bank cheque worth ₹55 lakh as a guarantee.

However, when the family demanded its money after the promised period, the accused allegedly began delaying repayment. The family later discovered that Gulati and his wife had reportedly shut down their local office and disappeared.

Court Intervention Leads to the 102nd FIR

The family reportedly approached the Bithri Chainpur police station and the Bareilly Senior Superintendent of Police's office several times. They also sent complaints through registered post but initially failed to get an FIR registered.

Following the court's intervention, police registered a case against Kanhaiya Gulati, his wife Radha Gulati and agent Harendra Prakash Patel under relevant legal provisions.

Ponzi Scam Allegedly Spread Across Five States

The alleged investment fraud is reported to have affected thousands of people across five states: Uttar Pradesh, Uttarakhand, Delhi, Bihar and Jharkhand.

A total of 102 cases have reportedly been registered against Gulati and the company in connection with the alleged scam. Uttar Pradesh Police has also announced a reward of ₹50,000 for information leading to his arrest.

Gulati and his wife have additionally faced allegations involving financial irregularities and links to shell companies.

Police Form Special Teams to Trace Accused and Seize Property

Bareilly in-charge SSP Chirag Jain confirmed that the latest FIR was registered in compliance with the court's directions.

He stated that a reward of ₹50,000 had already been announced for the accused and that special police teams had been formed to trace and arrest him. Authorities are also taking steps to identify and confiscate properties linked to the accused as part of the ongoing action.

The investigation into the alleged multi-state Ponzi scam continues, while police efforts to locate Kanhaiya Gulati and recover the investors' money remain underway.