21 lakh reward on conman who ran away with 10 crores from 42 traders in MP

Traders in Guna district of Madhya Pradesh are up in arms, offering a substantial reward of Rs 21 Lakh against a fraudulent businessman who has disappeared with a staggering sum of Rs 10 crores from 42 traders. Adding to his audacity, he even swindled £60,000 from former MLA and District Panchayat member Mamta Meena. The rogue trader has been on the run for the past 20 days. Authorities have registered a case against him, prompting traders to take to the streets in protest, staging a two-day dharna. Prior to his escape, the cunning businessman slyly dispatched his employees to Rajasthan’s Khatu Shyam and managed to sell a plot in secrecy. Armed with cash, he absconded overnight along with his family. The police are actively pursuing leads to apprehend him. In solidarity, traders have halted their operations in the market for the past two days. Lokendra Gupta, also known as Dabbu, operated under the business name GB Aggarwal, dealing in the trading of wheat in Kumbhraj Mandi. Trouble brewed as he accumulated debts with multiple traders and farmers from Kumbhraj, Binaganj, and Guna Mandi. Despite promises of payment within 15 days, Lokendra had consistently evaded settling his dues, leaving traders grappling with unpaid invoices. The swindler had summoned the traders on July 19 to discuss payment. However, upon their arrival, they were met with locked gates and homes. It transpired that Lokendra had fled during the night of July 18, leaving 42 traders defrauded of over Rs 10 Crore. The dismayed traders lodged a formal complaint with the Superintendent of Police (SP) and registered FIRs in various police stations. After several days, the traders offered a £21,000 reward for anyone who could help locate the elusive trader. Despite this incentive, and after 20 days of fruitless efforts, the traders resorted to a strike, grinding business to a halt at Kumbhraj Mandi. Lokendra had a long-standing family business but decided to branch out independently, which initially built trust among traders. His punctual payments and sizable purchases bolstered his credibility, leading traders to extend him credit. He acquired substantial quantities of maize and coriander, paying a slightly higher rate than market prices. Scheming further, Lokendra manipulated his bank account limit based on incorrect property information. Despite having a property valued at Rs 70,000-Rs 75,000, he secured a bank limit of Rs 1 crore. He even secured a loan in the name of a shop he owned. Following his escape, the bank seized his properties. Additionally, he sold a plot in Kumbhraj, suggesting a premeditated escape plan. In a calculated move, he sent his workers and laborers on a pilgrimage to Khatu Shyam Temple in Rajasthan, ensuring no suspicion would arise. Traders believed his explanation for the temporary shop closure due to labor absence. A vigilant businessman managed to confront Lokendra and retrieve Rs 27 lakhs he was owed, but the rest of the traders were left in the dark.