Jaipur, September 21 (Daily Kiran News): The Special Operations Group (SOG) of Rajasthan Police has busted a major gang accused of duping people of crores of rupees through fake investment schemes. The operation led to the arrest of the gang’s mastermind along with two associates.
Fake Companies, False Promises
According to SOG Inspector General Sharat Kaviraj, the arrested accused are Prince Saini alias Banshilal (24), Mamta Bhati (24), and Dinesh Bagdi (24). They allegedly floated multiple fake companies, created websites, and heavily promoted them on social media to lure investors with attractive returns and luxury items.
Investigations revealed:
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In 2017, Banshilal launched Tronact World, cheating 54 people of ₹6.48 lakh.
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In 2022, he started Grow More Education Pvt Ltd, collecting nearly ₹60 lakh from 2,200 students under the guise of online coaching.
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Later, through Harvest AI Technology Pvt Ltd, the gang promised luxury cars worth lakhs for just ₹5–6 lakh, duping over 250 people of crores of rupees.
The gang also ran schemes promising ₹8,000 returns on a ₹2,380 investment in 11 months, along with daily “lucky draw” prizes like bikes and scooters. To mislead investors, they claimed their tokens were “listed in the market” and boasted of “2 lakh satisfied customers.”
Lavish Lifestyle, No Returns
The SOG found that instead of providing promised returns, the gang splurged the collected money on luxury living and promotional events. The mastermind reportedly built credibility by making large donations at social and religious programs.
Case Registered, More Suspects Traced
An FIR has been lodged under the Bharatiya Nyaya Sanhita and the Banning of Unregulated Deposit Schemes Act, 2019. Police suspect more individuals are linked to the racket and are continuing their search.
The SOG urged the public to stay alert against too-good-to-be-true investment schemes that promise high returns in short periods.
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