Did Rajasthan Police Uncover a ₹3,500 Crore Fraud Investment Scheme?
Click to start listening
Synopsis
In a significant crackdown, the Bharatpur Police in Rajasthan have exposed a fraudulent investment scheme that scammed over 300,000 investors, leading to losses surpassing ₹3,500 crore. Five suspects were arrested, and substantial assets seized, marking a pivotal moment in the fight against cybercrime.
Key Takeaways
- Rajasthan Police successfully dismantled a major fraud scheme.
- Over 300,000 investors were duped.
- Financial losses exceeded ₹3,500 crore.
- Five key suspects have been arrested.
- Significant assets have been confiscated.
Jaipur, Nov 20 (NationPress) Following the orders from the Rajasthan Police Headquarters aimed at combating the increasing wave of cybercrime, the Bharatpur Police in Rajasthan have successfully dismantled a colossal fraudulent investment operation that deceived over 300,000 unsuspecting investors nationwide, resulting in a staggering financial loss of more than ₹3,500 crore.
Authorities confirmed that five principal suspects have been apprehended, and significant assets have been confiscated.
This extensive operation was executed by a specialized team under the direct oversight of District Superintendent of Police, Bharatpur, Digat Anand, and led by Pankaj Yadav, IPS, the Circle Officer of Bharatpur City.
The fraudulent activities came to light after a case was lodged at the Mathura Gate Police Station on November 12, 2025, reporting that a phony investment website, gqcw.cn, along with a mobile application, was luring individuals to invest in cryptocurrencies and forex markets with promises of exorbitant returns, bonuses, and incentives.
Investigations revealed that the company was not registered with SEBI, RBI, MCA, or any legitimate regulatory body in India.
While the website falsely claimed to have been operational from Russia since 2016, police uncovered that its actual operations commenced in Jaipur in November 2022.
Key figures identified in establishing and managing this fraudulent scheme include Sandeep Sigar and Rajat Sharma.
The website deceitfully asserted a user base of 4.7 million and $4.3 billion in assets under management. However, physical verifications indicated that, although the user tally was approximately 4.7 million, the fraudulently collected deposits were only around ₹350 million (about ₹3,100 crore).
Additionally, the same group was implicated in operating another fraudulent investment site, pvp.com, which defrauded around 9,000 users of $58 million (over ₹500 crore).
The police have taken into custody five individuals in connection with this extensive cyber fraud.
In total, authorities seized ₹40 lakh in cash, gold ornaments, five luxury vehicles, and cryptocurrency valued at approximately ₹40 lakh. These actions were undertaken under various sections of the Irregular Deposit Schemes Prohibition Act, 2019, alongside relevant provisions of the BNS.
Point of View
This incident underscores the urgent need for stricter regulatory measures and public awareness regarding investment schemes. The scale of this fraud is alarming and highlights vulnerabilities in our financial systems. Nation remains committed to delivering accurate news that protects the interests of our citizens.
NationPress
20/11/2025
Frequently Asked Questions
What prompted the investigation into the fraudulent scheme?
The investigation began after a case was filed on November 12, 2025, at the Mathura Gate Police Station, reporting a fraudulent investment website.
How much money was lost in this fraud?
Victims suffered losses exceeding ₹3,500 crore due to the fraudulent investment scheme.
Who were the main figures behind the fraud?
Sandeep Sigar and Rajat Sharma were identified as the primary individuals behind the fraudulent operations.
What actions were taken against the suspects?
Five suspects were arrested, and assets including cash, gold, luxury vehicles, and cryptocurrency were seized.
Was the investment company registered?
The company was not registered with any regulatory authority in India, including SEBI and RBI.
