Myfledge Director Booked in 8 FIRs as Police Order Asset Freeze.

Myfledge Directors Faces 8 FIRs in Multi-Crore Pan-India Fraud Probe

• Uttarakhand Police Intensifies Probe into Multi-Crore Scam

• Crackdown Intensifies: Police Ordered to Freeze Accused’s Assets

• Myfledge Directors Face Legal Heat in Mumbai Courts

A Sprouts News Special Investigation has uncovered that Myfledge Pvt. Ltd. directors face eight FIRs across India in a multi-crore investor fraud. The scam, linked to LUCC (Loni Urban Multi-State Credit Cooperative Society), defrauded over 500 investors. Uttarakhand ADG Crime V. Murugeshan has ordered an asset freeze, Look Out Circulars, and Interpol alerts for absconding directors including Shabab Hussain (Hashim), as the probe widens into Mumbai and Uttar Pradesh.

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Myfledge Directors Faces 8 FIRs Across India in Widening Multi-Crore Fraud Probe

Myfledge Private Limited directors are now confronting eight FIRs across India. A fresh ₹5 crore fraud case in Baghpat, Uttar Pradesh, intensifies the legal storm. This development follows seven criminal cases already filed against the company in Mumbai courts.

The scandal centres on The Loni Urban Multi-State Credit Cooperative Society (LUCC). Police allege the multi-state cooperative society scam defrauded over 500 Baghpat investors. Their operations have ensnared 22 named individuals in ongoing investigations.Uttarakhand Police Intensifies Probe and Orders Asset Freeze

Uttarakhand’s ADG Crime, V. Murugeshan, is spearheading a rigorous probe. He recently reviewed seven LUCC cases via video conference. The ADG instructed officials to accelerate investigations and file FIRs promptly. He emphasised strict legal action against all accused individuals.

Authorities now fear key accused may attempt to flee India. This includes Myfledge director Shabab Hussain, also known as Shabab Hashim. The ADG has directed police to initiate Look Out Circulars. They will also seek Interpol’s help with Red Corner Notices for international enforcement.

Crackdown on Illicit Assets and Financial Scrutiny Deepens

A multi-agency crackdown aims to recover defrauded investor funds. Officers must identify and seize properties bought with illicit money. Bank accounts linked to the accused will be frozen based on money trails. The directive aims to provide maximum restitution for victims.

Detailed case reports will be forwarded to national agencies. The Enforcement Directorate and Income Tax Department will conduct financial scrutiny. Cases will be registered under the UPID Act and BUDS Act. These laws specifically target unregulated deposit schemes and financial fraud.

Also Read: Anil and Abhishek Mishra’s Fake Film Award Scam Exposed.

Myfledge Directors Face Legal Heat in Mumbai Courts

Parallel legal actions are unfolding in Mumbai’s judicial system. A Mumbai court has issued processes in a separate ₹4.44 crore fraud case. This case names Myfledge directors Bishwajit Badal Ghosh and Piyalee Chatterjee. Director Shabab Hussain is also named in this specific complaint.

Further legal troubles include six cheque bounce cases in Girgaon Court. Another cheating and forgery case is active in Andheri Court. These cases name directors and their family members, — Badal Chandra Ghosh, Bijoya Subratkumar Das, Piyalee Shyamlendu Chatterjee, and Bishwajit Badal Chandra Ghosh. widening the probe’s scope. The collective accusations paint a picture of systemic financial deception.

Student Complaints and National Network of Operations

Beyond investors, students have filed complaints against Myfledge. They report significant discrepancies between commitments and actual services. These grievances relate to promises made during their admission processes. The company operates training centres in over a dozen major Indian cities.

Myfledge claims centres in Bengaluru, Lucknow, Guwahati, and Chandigarh. Other locations include Dehradun, Surat, Navi Mumbai, and Mumbai. This vast network is now under scrutiny by various state police forces. The scale of alleged operations highlights a potentially widespread issue.

High-Level Review Focuses on Inter-State Coordination and Justice

A high-level meeting in March 2025 focused on inter-state coordination. ADG Murugeshan stressed collaboration among law enforcement agencies. The goal is to trace all assets and ensure complete accountability. Every accused individual will be held responsible under applicable laws.

The primary focus remains on recovering funds for defrauded investors. With the Myfledge director reported as absconding, the manhunt intensifies. This Special Investigation Team will continue to monitor all developments. We are committed to delivering justice for all affected victims.