Woman accused of Rs 50 lakh fraud in Assam's Margherita, police launch investigation

A major financial fraud has allegedly surfaced in Margherita of Assam's Tinsukia district, where a woman is accused of cheating several families out of more than Rs 50 lakh and a substantial quantity of gold ornaments by promising unusually high returns on investments.

The accused has been identified as Mira Rao, a resident of Balukhad Dhan Bazar in Ward No. 6 under the Margherita Municipal Board.

According to local residents, Rao had allegedly been persuading people for an extended period to invest their money and entrust their gold ornaments to her by assuring them of high interest and attractive returns. Trusting these assurances, numerous individuals reportedly handed over their savings and valuables.

Victims alleged that after collecting large sums of money and gold jewellery from multiple families, Rao went into hiding and had reportedly been staying in Guwahati for a considerable period.

Following complaints lodged by the affected families at the Margherita Police Station, police initiated action into the alleged fraud. On Saturday, Rao appeared before the Margherita Police Station accompanied by her legal counsel.

News of her appearance quickly spread across the town, prompting a large number of aggrieved investors to gather outside the police station. The situation remained tense as victims demanded strict legal action against the accused.

The affected families have urged the Margherita Police and the Margherita Co-District administration to ensure recovery of their lost money and gold ornaments while seeking the maximum punishment permissible under law for the accused.

Police have registered the matter and launched an investigation to ascertain the full extent of the alleged financial fraud and identify the total number of victims involved.