Nagaur Police Crack Down on Fake Crypto Mining Investment Scam; Gang Defrauded Rs 10 Crore
Nagaur, Rajasthan – A major fraud involving fake investment schemes promising hefty returns through cryptocurrency mining has come under the radar in Nagaur. The cybercrime unit has uncovered a racket wherein a fake company was used to lure investors with promises of huge profits from crypto mining machines. One victim reportedly lost Rs 92 lakh, while the gang is estimated to have swindled around Rs 10 crore in total from unsuspecting individuals.
Details of the Scam
According to police reports, the accused set up a bogus investment company named Carnival Corporate Group Investment in Medta city. They convinced investors to put money into purchasing cryptocurrency mining machines, promising them substantial returns. Victims who fell prey to this scheme ended up losing large sums of money under the false belief that they were investing in a legitimate venture.
The cybercrime police in Nagaur registered a case following complaints and conducted raids under the direction of Superintendent of Police Mridul Kacchawa. The operation was led by Cyber Police Station Chief Ummed Singh. As a result, four key accused were arrested: Saurabh Pant (36) of Vaishali OPT Pali Road, Jodhpur (currently in Delhi), Mukesh Nath (38) from Idwa, Nagaur, Sukhram (43) from Lunyas Gotan (currently in Medta city), and Kapil Dev (43) from Khakarki (currently in Medta city).
Seized Evidence and Network
During the raids, investigators confiscated four computers, two laptops, and important transaction-related documents which are now part of the investigation. Police revealed that the gang had developed fake investment platforms and mobile apps, through which they issued login IDs and passwords to lure investors. They used social media and messaging apps extensively to entice people with promises of high returns on investments.
This network is sophisticated, with its reach extending to Delhi, indicating a well-organized syndicate operating beyond Rajasthan.
Police Statements and Ongoing Investigation
SP Mridul Kacchawa confirmed that Saurabh Pant and other gang members served as the masterminds behind this scam. The police continue probing to identify other victims and bring more culprits to justice.
He cautioned the public to be wary of online investment schemes promising unrealistic profits, especially those related to cryptocurrency mining, which are frequently exploited by fraudsters.
Public Advisory
Authorities urge investors to conduct thorough due diligence and avoid sharing sensitive information online without verifying the authenticity of investment platforms. If anyone suspects they have been targeted by similar schemes, they should immediately contact the nearest cybercrime police station.
Conclusion
This incident highlights the growing trend of cyber-enabled financial frauds exploiting the popularity of cryptocurrency. The Nagaur police’s swift action in dismantling this gang serves as a warning to others engaging in such illegal activities and a reminder for the public to stay vigilant.
For further updates and more details on this case, readers are encouraged to follow official police notices and trusted news sources.
Source: Dainik Bhaskar, Nagaur Cyber Police