Rajgarh Police Bust Interstate Ponzi Scam Gang, Arrest 14

Bhopal (Madhya Pradesh): Rajgarh police have apprehended 14 individuals involved in a nationwide Ponzi scheme scam, according to officials on Thursday. The operation lasted 35 days and spanned approximately 30,000 kilometers across 10 states. More than Rs 1.73 crore in cash, along with four SUVs and 19 mobile phones, were seized during the raids. The total value of the seizure is estimated at around Rs 2.29 crore.

The alleged Ponzi scheme promised investors that they would instantly double their money by investing it with the scammers. A businessman from Bhopal lodged a complaint, stating he invested Rs 2 crore on July 22, believing he would receive Rs 4 crore in return. He handed over the money to the fraudsters but never received the promised returns. The businessman tried to contact the people involved, but their office was closed. He then approached the police and lodged a complaint on July 24.

The investigation led police to conduct raids in multiple states, including Maharashtra, West Bengal, Rajasthan, Kerala, Telangana, Andhra Pradesh, Uttar Pradesh, Delhi, and Haryana. The ten teams involved in the operation covered vast distances and arrested 14 persons in connection with the Ponzi scheme. Police also learned that the gang had cheated a businessman in West Bengal of Rs 50 lakh. Additionally, a police officer based in New Delhi was allegedly duped by the same gang.