Assam: Fake financial firm embezzle funds worth Rs 4 crore in Bajali-Barpeta

Pathsala: A fraudulent financial establishment, Bhuwa Financial Establishment has reportedly looted around Rs 4 crore from the public in the Barpeta-Bajali area.

The institution, operating under the name Shraddha Suraksha Nidhi, was run by Rituparna Pathak along with his wife Geetanjali Pathak and his sister Bibharani Pathak.

Following their sudden disappearance, customers and employees are left in turmoil, scrambling to recover their hard-earned money.

Around three years ago, Shraddha Suraksha Nidhi was established in Barpeta, followed by branches in Bhabanipur and Pathsala in Bajali.

The institution quickly gained the trust of locals, opening accounts and collecting significant deposits from the public.

However, in recent months, the financial establishment began delaying payments, causing unrest among the customers.

The situation took a dire turn when the owners absconded, leaving the employees and customers in a lurch.

The employees, mostly young men earning minimum wages, now face the ire of customers demanding their money.

In front of all branches in Barpeta, Bhabanipur, and Pathshala, crowds of frustrated customers can be seen trying to reclaim their dues.

Desperate for resolution, both customers and employees have filed complaints with the police.

The fraudulent activities have led to significant financial burdens, with the deposited money allegedly transferred into the personal account of Rituparna Pathak.

A distressed customer shared, “It’s written that we will get Rs 4,500 every month on a specific date, but for the past three to four months, the payments have been delayed. When we asked the accountant, they didn’t respond or speak to us nicely. There are very few employees when we visit the bank. I have to skip work to come to the bank, and even after coming two or three times, I don't get the money. They tell us to come back in 15 days, citing server issues and other excuses. This treatment feels like harassment. I have Rs 1.5 lakhs deposited in this bank. I've heard the owner doesn't prioritize this issue. If I don't get this money, I don't know what I'll do. This is my hard-earned money from a year of saving. Previously, they gave the money on time, but now there's always a delay. If this continues, I will file a case, and there are over 3000 other customers affected.”

The police are currently investigating the case and trying to trace the whereabouts of the absconding owners and recover the stolen funds.

The Bhuwa Financial Establishment scam has left thousands of customers in Barpeta-Bajali in financial distress.