In a significant breakthrough, a husband-wife duo from Meghalaya has been arrested for their involvement in an online scam that defrauded thousands of people through a fraudulent AI-powered trading platform. The accused, identified as Aron T. Sangma and Bernadeth Sangma, were arrested on Wednesday in Laban, Shillong. They were later forwarded to judicial custody as the case has been transferred to the crime branch for further investigation.
The scam, which targeted investors with promises of high returns on investments through AI-powered trading, has reportedly affected over 10,000 individuals, leading to financial losses running into crores of rupees. The couple, originally from Resubelpara in North Garo Hills, operated a fake investment platform using an app called Datameer, and a website daaisi.com.
According to East Khasi Hills Superintendent of Police Sylvester Nongtnger, the fraudulent operation began with the promise of small, low-risk investments, starting from just Rs300, with an enticing daily profit of Rs30. To build trust, the scammers initially paid out small commissions to the investors, encouraging them to reinvest and invite others to join the scheme.
The scam was further legitimized by using the picture of A. Balasubramanian, the CEO of Aditya Birla Sun Life AMC Limited, in their promotional materials. This tactic led many to believe the scheme was genuine, as the name and image of a reputable financial figure were associated with the platform.
However, the fraudsters’ scheme unraveled when investors began to face difficulties in withdrawing their profits, leading to growing suspicion. The scam’s true scale became evident when the police discovered that the couple had been using the app and website to lure in more investors while pocketing the funds.
The investigation is still ongoing, with authorities working to identify all affected individuals and to track the flow of funds. Authorities are also scrutinizing the operations of the website and app, which were instrumental in carrying out the scam.