Jaipur/Sri Ganganagar, Jan 28 (NationPress) As part of ‘Operation Cyber Seal’, launched by the Rajasthan Police, a significant cyber fraud operation totaling over ₹2000 crore was dismantled during a coordinated effort on Tuesday.

The authorities apprehended the alleged mastermind, Ajay Arya, the son of Lajpat Arya, who resides in Ambika City, Sri Ganganagar.

Ajay Arya, who is the director of Cappmorefx, along with his accomplices, is linked to numerous cyber fraud cases filed on the Pratibimb portal.

According to DIG and SP Gaurav Yadav, the arrest was made following a complaint lodged by Kantappa Babu Chavan, a resident of Karnataka, at the Purani Aabadi police station.

Chavan claimed that Ajay Arya and his associates had defrauded thousands in Vijayapura, Ingalagi, and other parts of Karnataka through investments in Cappmorefx, amassing an astonishing ₹2000 crore before escaping to Sri Ganganagar.

The police executed a search warrant at Ajay Arya’s opulent residence in Ambika City-2. During the raid, they seized ₹10 lakh in cash, 3 CPUs, 6 mobile phones, 8 ATM cards, 3 PAN cards, a luxury vehicle valued at ₹85 lakh, and documents related to the cyber fraud.

Following these findings, Ajay Arya was taken into custody. Investigations uncovered that seven cyber fraud cases had been reported against his mobile number and bank account on the Pratibimb portal.

Upon deeper investigation, his accounts were linked to 75 additional accounts, which collectively accounted for approximately 76,000 online complaints. It is believed that thousands of complaints nationwide are connected to Ajay Arya and his associates.

A case has been registered against Ajay Arya, Deepak Arya, Lajpat Arya, Saurabh Chawla, his spouse Saloni Chawla, Karamjit Singh, Baljit Singh, and Rajendra Singh under the BNS and IT Act at Police Station Sadar.

The investigation has revealed that in 2022, the accused established a company called Teachable Tech in Vijayapura, Karnataka, focusing on cyber training.

They masqueraded as a forex trading business and promoted investments through another company, Cappmorefx, on social media platforms. The accused enticed thousands to invest money through a chain system, promising to double or triple their returns.

Initially, they built trust by repaying double the amount but subsequently urged victims to recruit family and friends. A total of over ₹2000 crore was amassed before the company was abruptly shut down in June 2023. The accused then fled to Dubai.

About two months prior, the accused summoned Kantappa Babu Chavan and others to Sri Ganganagar for a supposed “compromise,” where they allegedly issued threats.

According to the complainants, the fraudulently obtained funds were used to acquire luxury properties, vehicles, and plots across the nation. The ongoing investigation aims to uncover the full extent of their illicit activities and recover assets purchased with these illegal funds.