Rs 3,000 crore fraudster Radhey Shyam returns to jail after court rejects plea for extension of interim bail
Shyam was arrested in connection with GST irregularities of over Rs 54 crore involving Future Maker Life Care Pvt. Ltd
Fraudster-turned-spiritual preacher Radhey Shyam returned to jail today after the Additional Session judge Anudeep Kaur Bhatti rejected his plea for extension of interim bail.
Advocate Devender Verma informed that Shyam, who was CMD of Future Maker Life Care Pvt. Ltd, had secured interim bail on the medical grounds of illness of his wife in mid of March. However, he appealed to the court to extend his interim bail on the same grounds. The courts on earlier hearings briefly extended his interim bail, but finally his plea was rejected after which he surrendered to the law and returned to jail today.
Shyam was arrested in connection with GST irregularities of over Rs 54 crore involving Future Maker Life Care Pvt. Ltd.
The accused had floated a firm M/s Future Maker Life Care Private Limited some years ago promising better return for the investors and embarked on multi-level marketing (MLM). His fraud was busted by the cyberabad police in Telangana which arrested him in 2018 and calculated his fraud business which ran into about Rs 3,000 crore. His modus operandi revealed that his company was enrolling members across the country by charging Rs 3,750 per person as membership fees.
A resident of Shiswala village in Hisar district, he is a high school dropout.
Through this large-scale membership drive, the company collected crores of rupees. He amassed over Rs 3,000 crore by generating data of more than 32 lakh active users across the country through a massive multi-level marketing scam in about three years from 2015 to 2018.
Though he got bail from cyberabad in the fraud case in 2023, the Income Tax Department initiated criminal proceedings against him. The investigating agencies booked him for evasion of Rs 54 crore GST with the department and he along with MD Bansi Lal Sihag were booked under Sections 9, 9AA of the Central Excises and Salt (Amendment) Act, Sections 83, 89, 89(1)(a) of the Finance Commission (Miscellaneous Provisions) Act, and Section 174 of the Central Sales Tax (Amendment) Act.
Both Shyam and Sihag had surrendered before the court in Hisar on November 10, 2025. Afterwards, Shyam got interim bail while Sihag is still in jail.
Notably, after getting bail from cyberabad, Shyam prefixes ‘Paramguru’ before his name and turned into a self-styled preacher. He constructed an ashram near Dabwali in 2025 and claimed to initiate several services for needy people.
