Home » First Arrest Made in Rs400 Crore Fraud by Prayagraj Real Estate Firm

First Arrest Made in Rs400 Crore Fraud by Prayagraj Real Estate Firm

Nirupama Mishra, mother-in-law of MD, arrested in ongoing fraud investigation

by Ananya Mehta

While the prime accused in a Rs400 crore fraud, linked to a Prayagraj-based real estate firm, remain on the run, the police have made their first arrest as part of an ongoing investigation.

On Sunday night, Shivkuti police apprehended Nirupama Mishra, the mother-in-law of Abhishek Dwivedi, the managing director of Niharika Ventures. Mishra was arrested at Prayag Railway Station. Abhishek Dwivedi and his wife, Niharika, are accused of defrauding hundreds of investors, including students, traders, lawyers, and housewives, over a real estate scheme.

Investigators revealed that Nirupama Mishra had previously been a member of the district Child Welfare Committee and had political ties in Faizabad.

According to Shivkuti station house officer Sanjay Gupta, a case has been filed against Abhishek Dwivedi, his wife Niharika, and his mother-in-law Nirupama Mishra for fraud, embezzlement, extortion, and issuing threats, following complaints from victims Kusum Pandey and Kamal Dev.

The victims had invested amounts ranging from R20 lakh to Rs50 lakh into the venture based on Abhishek’s assurances. However, he has been delaying payments for the past six years and has refused to hand over the promised plots to the investors.

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