Bharatpur Police in Rajasthan have uncovered one of the largest online investment scams in India, arresting five members of an international gang for defrauding investors of nearly Rs3,500 crore. The gang lured people through fake websites and mobile apps, including xpo.ru and dizicx.com, promising high returns in cryptocurrency and forex trading. The main masterminds remain at large.
Authorities seized Rs40 lakh in cash, luxury cars worth Rs4 crore, gold and silver jewellery, and around Rs40 lakh in cryptocurrency during the investigation. This is being described as Rajasthan’s largest digital investment fraud.
The case emerged on 12 November after a victim filed a complaint at Mathura Gate Police Station, reporting that the platform xpo.ru promised “double-to-triple” returns and offered bonuses, referral earnings, and fast-growth investment plans to attract investors.
Preliminary investigations revealed that the platforms were unregistered with SEBI, RBI, MCA, or any government authority. While the website claimed to be a Russia-based company since 2016, operations were traced to Jaipur starting November 2022.
The gang also ran dizicx.com, defrauding over 9,000 investors of nearly Rs500 crore. Both platforms were part of the same network, with servers located abroad to mislead Indian authorities.
The arrested members are:
Atul Kumar
Mukul Kumar
Krishna Kumar
Rakesh Kumar
Umrao Mal
These individuals acted as telecallers, fund collectors, and commission distributors. The main masterminds, Sandeep Sigar and Rajat Sharma, are still being traced. Police cyber teams are actively investigating domestic and international links of the network.
