Background and Timeline: A joint task force of the Bihar STF and the Economic Offences Unit (EOU) executed a successful raid in Sheikhpura district on Wednesday, February 4, 2026. The operation targeted two high-tension locations in Chhabila Tika village under the Baribigha police station jurisdiction. The raid was the culmination of a secret intelligence-led probe into a surge of complaints regarding predatory loan applications targeting the region.
Modus Operandi: The gang utilized a “Predatory Bait” strategy, advertising instant personal loans at extremely low interest rates via social media and mass messaging. Once a victim registered on their bogus ‘Dhani Finance’ application, they were subjected to demands for hefty “processing fees,” “GST,” and “document verification charges”. After the initial fees were collected, the fraudsters disappeared, often using the victim’s personal data to blackmail them for further payments.
Victims and Financial Impact: The syndicate targeted thousands of lower-income individuals seeking quick financial assistance, extracting sums ranging from ₹1,500 to ₹15,000 per victim in the name of fees. The total financial impact is currently under audit, with investigators recovering a substantial customer database containing thousands of entries from across India. Police seized 19 SIM cards and five mobile phones which served as the primary command center for the “Dhani Finance” racket.
Investigation and Agencies Involved: Cyber DSP Jyoti Kumari led the operation, utilizing precise technical pings to locate the fraudsters in the hilly terrain of Chhabila Tika. The EOU technical team is currently conducting a forensic examination of the seized database to identify the primary developers of the fake application. Investigators have vowed a thorough probe to identify the banking facilitators who allowed the gang to open accounts using forged identities.
Arrests and Suspects: Five members of the gang were arrested during the raid, while two other key suspects managed to escape under the cover of darkness and the difficult terrain. The arrested individuals are local residents who functioned as the primary operational cell for the interstate syndicate. Authorities have intensified search efforts to apprehend the absconding duo and have initiated steps to block all digital assets linked to the “Dhani Finance” brand.
Broader Implications and Trends: This case reflects a persistent “Loan-as-a-Trap” model that exploits the financial desperation of the urban and rural poor. It highlights the role of localized gangs in managing the “front-end” of scams that may have technical backends located in other states. Police urged the public to verify the NBFC registration of any lending app through the official RBI website before making any upfront payments.