Agartala, July 04, 2025: A retired jawan of the Tripura State Rifles (TSR) has reportedly lost Rs 72 lakh after investing his life savings in the stock market through a private broking firm that has now allegedly vanished.

The victim Bidhan Chandra Das is a resident of Jambura village in Khowai district has lodged a formal complaint with the local police accusing the company LFS Broking Pvt. Ltd of cheating and fraud.

According to the complaint, Das began investing through the firm in September 2020 after being introduced to it by one Tapas Shukla Das. He initially invested Rs 5 lakh, lured by the company’s offer of a fixed 2% monthly return, irrespective of stock market performance. Encouraged by regular payouts in the beginning, Das gradually increased his investments over several phases, eventually pouring in a total of Rs 72 lakh—mostly drawn from his pension and retirement benefits.

Das had signed a formal agreement with the firm that guaranteed monthly interest payments. However, over time, he lost all contact with the company, and the promised returns stopped. On further inquiry, he discovered that the firm had shut down operations.

Acting on his written complaint filed on last Wednesday night, Khowai Police registered a case (No. 31/2025) under IPC Section 420 and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) for cheating and fraudulent activity.

Preliminary investigations have revealed that the firm’s Managing Director Syed Rahman is already in judicial custody in Khurda district of Odisha in connection with a similar case. Police in Khowai have launched a detailed investigation into the matter.