Alleged Mastermind Held in Rs 70.77 Lakh Share Market Fraud on Rural Women in Raigarh

Raipur: Raigarh cyber police have arrested the alleged mastermind of a Rs 70.77 lakh fraud in which rural women were lured with promises of doubling their money through share market investments in a short time.

The accused, Minketan Sidar (40), a resident of Amgaon village in the Tamnar police station area, was arrested during a raid in Tamnar on Thursday. Police seized a mobile phone allegedly used in the crime and collected documents related to his bank account. He has been sent to judicial remand.

Police said Sidar allegedly planned the scam with Menka Sarthi, who was arrested earlier. The victims were women from Jatari village under Pusaur police station and nearby villages, and the total amount collected from them was Rs 70,77,901.

The case surfaced when Hara Bai Nishad (36) of Jatari and other women filed a complaint. They alleged that Menka Sarthi persuaded them to invest by claiming that she and her husband, Akshay Sarthi, were making big profits in the share market. She allegedly assured them their money would double quickly and promised that she and her husband would personally guarantee the doubled amount if the investments failed.

Believing her, several women paid money in cash and through online transfers between April 6 and October 24, 2025. According to the complaint, Hara Bai Nishad invested Rs 17.53 lakh, Anita Nishad Rs 17.24 lakh, Pushpa Sidar Rs 9 lakh, Vishnu Priya Nishad Rs 7.50 lakh, Dujkunwar Yadav Rs 5 lakh, Munni Bai Sarthi Rs 3.40 lakh, Mohanmati Sidar Rs 3.30 lakh, Aarti Sidar Rs 3 lakh, Phoolbai Yadav Rs 3 lakh and Sushila Nishad Rs 1.80 lakh. Other women were also allegedly made to pay.

Police said Menka initially returned some profits to a few investors to win their trust, then stopped payments. When the women demanded their money back, they allegedly found it had been spent on personal needs instead of being invested. They were also allegedly threatened with jail if they went to the police. Some victims had taken bank loans to invest and are now repaying them on their own.

On the directions of Raigarh Senior Superintendent of Police Shashi Mohan Singh, the cyber police began a detailed probe. A case was registered at the cyber police station on July 22, 2026 (Crime No. 11/2026) under Sections 318(4) and 3(5) of the Bharatiya Nyaya Sanhita against Menka Sarthi, her husband Akshay Sarthi and Meera Sonwani.

Investigators examined bank transactions, victims’ statements and technical evidence, and found transactions worth lakhs of rupees in three bank accounts linked to Menka. She was arrested on October 6 from Bartunga village in Sakti district, and a mobile phone, ATM cards and details of the three accounts were seized from her.

During questioning, Menka allegedly said she had met Sidar while living in a rented house in Raigarh’s Dhimrapur area. Police said the probe points to Sidar’s alleged role in designing the scheme to collect money in the name of share market investment.

Investigators said Menka later brought in her husband and her mother, Meera Sonwani. Akshay allegedly assured investors of high returns and tracked the transactions, while Meera allegedly encouraged women to invest, collected cash and helped deposit it in bank accounts. The money was allegedly moved through different people’s bank accounts, with early repayments used to build confidence before payments stopped.

Police said the investigation is continuing and the remaining accused are yet to be arrested.