.png)
KalimNews, July 18, 2025, Siliguri : In a startling case of alleged financial fraud that has sent shockwaves across West Bengal and beyond, a Siliguri couple has filed a police complaint against prominent Siliguri jeweller Chandra Prakash Sinhal and seven members of his family. The accused, owners of multiple jewellery showrooms including Silver Queen Jewellers, Gold Diamond Silver Queen Jewellers, and Gems Queen Jewellers in Siliguri’s Seth Shreelal Market, are alleged to have orchestrated a fraudulent investment scheme that has led to losses estimated at over ₹100 crore.
The complainants, Suresh Kumar Agrawal and his wife Usha Devi Agrawal, residents of Dr. Kalidas Road of Khalpara Siliguri, have alleged that they were personally defrauded of ₹85 lakh by the Sinhal family. According to the FIR lodged in Panitanki TOP under Siguri Police Comissionerate, the Agrawals were long-time customers of Chandra Prakash Sinhal’s jewellery establishments. In 2023, Chandra allegedly approached Suresh Kumar with an exclusive investment proposal, claiming it was available only to select and trusted clients. Under the scheme, customers were to purchase jewellery as an investment with a promised return of 12% annual interest. To gain credibility, Sinhal reportedly issued provisional interest credit slips along with tax deduction (TDS) certificates.
Trusting the offer, Suresh Kumar Agrawal made payments to Chandra Prakash in three separate instalments: ₹15 lakh on March 25, 2023; ₹50 lakh on October 12, 2023; and ₹20 lakh on June 12, 2024. Despite repeated follow-ups, the promised jewellery was never delivered. When pressed, Sinhal allegedly provided various excuses to delay delivery, at one point showing diamonds that Suresh declined, asking instead for the agreed items.
Things took a darker turn in May 2025. When Agrawal visited one of the showrooms on May 25 to demand the jewellery, he discovered that the shops had been abruptly shut down. Of the several outlets once bustling with customers, only one remained open, staffed by junior employees who claimed to have no knowledge of the whereabouts of their employer or his family. Subsequent visits to Sinhal’s residence in Devidanga yielded no results— the house was locked and appeared to be abandoned.
Following the disappearance of the Sinhal family, the Agrawals filed a formal complaint. Police have registered a First Information Report (FIR), and an investigation has been launched into what now appears to be a large-scale scam affecting not only Siliguri, but also extending to Sikkim, Kalimpong, Calcutta and Thakurganj. On July 20225 Suresh Kumar visit the same open shop where they met Pawal Sinhal and Rita Sinhal who denied to the allegations made by Suresh instead they threatened him.
According to Suresh Kumar, he has already been in contact with around 35 other victims of similar fraudulent schemes allegedly conducted by the Sinhal family. Preliminary estimates suggest the total loss could exceed ₹100 crore. Chandra Prakash Sinhal, once considered a reputable jeweller and known for attending public events as a social activist, now stands accused of masterminding a massive investment fraud that has shaken the trust of the regional community.
This case is the latest in a growing list of high-profile financial scams across the country. In similar incidents reported recently:
-
A senior citizen in Hyderabad was cheated of ₹57.4 lakh by cyber criminals posing as representatives of a fraudulent trading platform called “FX Road.”
-
In Maharashtra, a retired government employee lost ₹2.85 crore to scammers promising lucrative returns on share investments.
-
In Bengaluru, a businessman was duped of ₹12 lakh in a fake gold scam involving police officials, who were later charged with extortion.
Authorities are urging citizens to exercise caution in investment dealings and to verify the legitimacy of such schemes through proper legal and financial channels. The investigation into the Sinhal family’s alleged scam is ongoing, and law enforcement agencies are working to track down the missing accused.
About the Author
