A major financial fraud has come to light in Guwahati's bustling commercial hub of Fancy Bazar, where nearly 20 wholesale traders have allegedly been duped in a cheque-based scam involving lakhs of rupees.
According to complaints, a man identified as Santosh posed as the proprietor of a firm named “M/s Agarwal Traders” and systematically defrauded multiple businesses across the city. Traders allege that the accused initially built trust by conducting regular transactions using cash and valid cheques, thereby establishing credibility within the trading community.
Once confidence was secured, the accused reportedly began procuring goods on credit from several wholesalers, issuing cheques against the purchases. However, when the traders attempted to encash these cheques, they were dishonoured, exposing the alleged fraud.
Sources claim that goods worth several lakhs were taken from different establishments under this scheme. The pattern of transactions suggests a premeditated effort to exploit business relationships and manipulate trust within the wholesale market network.
Following the revelations, affected traders approached authorities, and a formal case has been registered at Panbazar Police Station. Police have launched an investigation into the matter and are working to trace the accused and uncover the full extent of the fraud.
Further details are awaited as the probe progresses.
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