Itanagar Police registered a case under relevant provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, and launched an investigation, following which a much larger fraud came to light. He then allegedly obtained pre-signed withdrawal slips and other banking documents from the beneficiaries under the pretext of loan processing. Police alleged that the money was subsequently invested in cryptocurrency trading and the stock market, where substantial losses were incurred. More than Rs 50 lakh was also allegedly advanced as private loans on interest, they said. Superintendent of Police Jummar Basar urged beneficiaries of government loan and subsidy schemes to carefully read official guidelines before signing any banking documents or depositing money.