<p>Bengaluru: An FIR has been registered against fintech company MobiKwik Xtra Ltd and NBFC Lendbox Pvt Ltd for allegedly blocking investor funds and withholding repayments under the 'MobiKwik Xtra' investment scheme.</p>.<p>Over 630 investors across India put in more than Rs 6 crore in the scheme, and nearly 30% of invested amounts remain blocked in several cases.</p>.<p>In Bengaluru, at least six investors from Hebbal, JP Nagar and Varthur have approached police with complaints.</p>.<p>Mayank Dey, 25, a mechanical engineer and a resident of Varthur, alleged in his complaint that the firms marketed the scheme as an investment product offering "better returns than fixed deposits" with the assurance of "anytime withdrawal".</p>.<p>He invested Rs 3 lakh in July 2024 after seeing promotions on social media and fintech influencer platforms.</p>.Rs 13.72 lakh lost in fake online trading and investment scheme.<p>A senior police officer said the complainant claimed that money collected through MobiKwik Xtra was allegedly routed to Lendbox and further lent to borrowers through a peer-to-peer (P2P) lending model.</p>.<p>After the Reserve Bank of India (RBI) issued regulatory changes relating to P2P lending platforms in August 2024, the firms froze withdrawals overnight and later began issuing reduced repayments.</p>.<p>While the platform initially provided regular monthly repayments, the amounts sharply declined from early 2025.</p>.<p>The firms informed investors that borrowers had defaulted. Investors, though, alleged that borrower mapping reports and lender verification records showed discrepancies in the repayment data.</p>.<p>Varthur police have registered a case and are gathering evidence, an officer said.</p>
<p>Bengaluru: An FIR has been registered against fintech company MobiKwik Xtra Ltd and NBFC Lendbox Pvt Ltd for allegedly blocking investor funds and withholding repayments under the 'MobiKwik Xtra' investment scheme.</p>.<p>Over 630 investors across India put in more than Rs 6 crore in the scheme, and nearly 30% of invested amounts remain blocked in several cases.</p>.<p>In Bengaluru, at least six investors from Hebbal, JP Nagar and Varthur have approached police with complaints.</p>.<p>Mayank Dey, 25, a mechanical engineer and a resident of Varthur, alleged in his complaint that the firms marketed the scheme as an investment product offering "better returns than fixed deposits" with the assurance of "anytime withdrawal".</p>.<p>He invested Rs 3 lakh in July 2024 after seeing promotions on social media and fintech influencer platforms.</p>.Rs 13.72 lakh lost in fake online trading and investment scheme.<p>A senior police officer said the complainant claimed that money collected through MobiKwik Xtra was allegedly routed to Lendbox and further lent to borrowers through a peer-to-peer (P2P) lending model.</p>.<p>After the Reserve Bank of India (RBI) issued regulatory changes relating to P2P lending platforms in August 2024, the firms froze withdrawals overnight and later began issuing reduced repayments.</p>.<p>While the platform initially provided regular monthly repayments, the amounts sharply declined from early 2025.</p>.<p>The firms informed investors that borrowers had defaulted. Investors, though, alleged that borrower mapping reports and lender verification records showed discrepancies in the repayment data.</p>.<p>Varthur police have registered a case and are gathering evidence, an officer said.</p>
