A major case of Kishanganj chit fund fraud has shocked Bihar. A fake finance company promised quick loans of ₹1.5 lakh to women if they deposited ₹5,000 first. The gang ran the operation from a rented house on Bahadurganj–Kishanganj Road. Bank staff went door to door and used the same key phrase, Kishanganj chit fund fraud, to hide their real plan while convincing women to trust them.
More than 1,000 women deposited money and received fake Federal Bank slips. The company also opened fake accounts to look genuine. On Tuesday, when the loan date arrived, hundreds of women reached the office. They found the doors locked. Within minutes, the news spread across the area.
People gathered outside the rented house and began shouting in anger. Some threw stones at the building. A sit-in protest blocked the main road, causing traffic jams.
Police reached the spot and controlled the crowd. Officers assured the victims that the accused would be caught soon. Residents said the landlord also acted carelessly by renting the office without checking details.
The investigation has named Praveen Mishra as the mastermind. Residents have been advised to stay alert because more such fake banks may be operating in the district.
