₹30–35 crore savings scheme fraud surfaces in Hooghly’s Banshberia, key accused absconding

A sensational financial fraud has triggered panic and anguish in Banshberia under the Magra police station area of Hooghly. Since morning, distressed residents have been lining up at the Magra and nearby police stations to lodge complaints, alleging that their life savings have been wiped out in a fraudulent private fund scheme.

At the centre of the allegations is Sabir Ansari, a resident of Banshberia’s Bodopara area. According to locals, he had been collecting money for years by running a so-called private savings fund, convincing people to deposit regular instalments by promising a secure future and assured returns.

Residents claim that an estimated ₹30 to ₹35 crore was collected from ordinary families in the area. The situation turned grim after Sabir Ansari suddenly went missing, leaving investors shocked and fearful about the fate of their money.

Many victims said the fund represented their last financial hope. Some had invested to pay for medical treatment of ailing family members, others to arrange weddings for their daughters, while several deposited money for basic survival and security.

As news of the accused’s disappearance spread, scenes of grief unfolded across the area, with several investors breaking down in tears. Police have begun receiving formal complaints and are assessing the extent of the alleged fraud as tension continues to grip Banshberia.