The Special Operations Group Rajasthan Police has dismantled a large fraud network that allegedly duped thousands of people through bogus luxury car sales and cryptocurrency investment schemes.
During the operation, police arrested Suresh Saini, a resident of Jodhpur, along with several associates involved in the fraudulent operation.
Investigators revealed that the main mastermind, Banshilal alias Prince Saini, worked with software developer Rajnish Kumar to create a deceptive website designed to attract investors. Through the platform, the accused allegedly convinced more than 82,000 people to invest in fake schemes, collecting around Rs2 crore.
The fraudsters also promoted a digital currency named “HVT Crypto Coin” across social media platforms, promising high returns and even offering luxury SUVs at highly discounted prices to lure investors.
To further gain public trust, the group organised large promotional events, including a programme called the “Double Century Reward Ceremony” in Bhopalgarh. During the event, they claimed to distribute around 250 SUVs to investors, which authorities say was part of the elaborate scam.
Police believe the scheme enabled the accused to cheat people of an additional Rs15 crore.
As part of the crackdown, officers seized several assets, including an SUV used in the operation. Other suspects arrested in connection with the case include Mamta Bhati and Dinesh Bagdi.
Investigations are ongoing as authorities attempt to identify more victims and track the money trail linked to the fraudulent network.
