Kolkata firm dupes investors of ₹93 crore; ED raids flat in Mukundapur

A Delhi-based couple has filed a complaint with the Securities and Exchange Board of India (SEBI), alleging a ₹93 crore financial fraud involving a Kolkata-registered company named BRH Wealth Creator. The firm, incorporated in 2004, is owned by Murugesh Devsaria and had an office in the Topsia area of Kolkata. According to the complaint, the company collected contact numbers and persuaded individuals to invest in specific shares under the pretext of stock trading and personal investment opportunities. The complainants alleged they were defrauded of ₹3.5 crore through this method.

Murugesh Devsaria was recently arrested from Vadodara, Gujarat. Investigating agencies believe the company misled investors across multiple locations using a similar strategy. The operations were conducted via a private sector bank where another accused, identified as Anthony, held a senior position. The fraudulent transactions were routed through the bank, which helped facilitate the movement of funds linked to the scheme.

The Enforcement Directorate conducted a raid at a flat in Kolkata's Mukundapur area in search of Anthony, who is currently untraceable. Officials are examining financial records and communications to determine the full extent of the scam and to identify additional victims and possible accomplices. The probe is focused on tracking the flow of funds, the misuse of banking channels, and the wider investor network involved in the ₹93 crore case.