Rajasthan Police busts Rs 3,500 crore online investment fraud; 5 held

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....ajasthan Police busts Rs 3,500 crore online investment fraud; 5 held<BR>PTI News<BR>Dated:- 20-11-2025<BR>PTI<BR>Jaipur, Nov 20 (PTI) Rajasthan Police has unearthed a massive online investment fraud with the arrest of five members of a racket which allegedly cheated more than three lakh people across the country of over Rs 3,500 crore, officials said on Thursday. The arrests were made in Bharatp....

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....ur following an investigation triggered by a complaint filed earlier this month, an official statement said. The FIR was registered on November 12 at Mathura Gate police station, where a complainant alleged that a website 'gqcw.cn' and a linked mobile application lured people with high returns from cryptocurrency and foreign exchange trading. Police later found that the platform was not regist....

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....ered with SEBI, RBI, the Ministry of Corporate Affairs or any other regulator. During the probe, investigators discovered that although the accused claimed that the platform had been active in Russia since 2016, its real operations began from Jaipur in 2022, the officials said. Two of the accused, identified as Sandeep Sigar and Rajat Sharma, were allegedly central to setting up and running th....

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....e network, they added. The syndicate also operated another platform, 'pvp.com', which allegedly defrauded around 9,000 users of more than USD 58 million (over Rs 500 crore), the police said. Searches led to the seizure of Rs 40 lakh in cash, gold jewellery, five luxury cars and cryptocurrency worth around Rs 40 lakh, they said. The arrests were made under the BNS and relevant sections of the....

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.... Banning of Unregulated Deposit Schemes Act, 2019. Further investigation into fund flows, digital assets and overseas links is underway, the police added. PTI AG APL APL<BR> News - Press release - PIB....