Rajesh Kumar, once a food cart operator, now finds his cart relegated to a corner of his upscale farmhouse, while his Mercedes has been confiscated. Until 2019, he ran a successful kadhi and cholle chawal stall, but his life took a drastic turn when he became embroiled in an investment fraud scheme that allegedly deceived numerous individuals throughout Haryana.
Known as Nana, Rajesh is accused of orchestrating a fraudulent investment network that targeted a variety of investors, including educated professionals. Authorities have received complaints from various locations, including Yamunanagar, Kaithal, Karnal, Ambala, and Kurukshetra, highlighting the widespread nature of the scam.
The investigation has revealed that the total amount involved in the alleged fraud could exceed Rs 8 crore. The police are currently examining the financial transactions linked to the operation, which reportedly included promises of inflated digital returns and real estate opportunities in Dubai. A group of local fraudsters is believed to have operated this scheme, and the cybercrime unit in Panchkula is tracing the money trail.
So far, four individuals have been apprehended in connection with the case, including Rajesh, Udham Singh from Karnal, Sushil Kumar from Yamunanagar, and Sanjeev Kumar from Ladwa in Kurukshetra. In addition to Rajesh’s Mercedes, law enforcement has also seized luxury vehicles such as an Audi Q5, Audi Q3, and a BMW linked to the accused. The police have approached the court for permission to auction these vehicles to recover the proceeds from the crime. They have also confiscated several electronic devices, including Apple MacBooks and iPhones, which are currently under forensic analysis for further evidence gathering.
The fraud was first brought to light when Ashok Kumar, a government contractor from Panchkula, filed a formal complaint against Rajesh. Ashok recounted his initial skepticism towards Rajesh and his associates, but he was eventually convinced after attending a gathering where they promised the presence of the company’s executives. He was initially drawn in by the promise of profits and invested Rs 8,500, which was promptly returned to him. Encouraged by this, he later took out a loan and invested Rs 3.5 lakh, subsequently bringing in his relatives, ultimately losing a total of Rs 60 lakh.
Ashok claims that many individuals he introduced to the scheme also faced difficulties withdrawing their investments, despite repeated assurances. He estimates the total losses experienced by his contacts to be around Rs 7-8 crore. An FIR filed in July on Ashok’s complaint led to the arrests, and the investigation has since expanded, revealing connections to operators in Dubai who allegedly orchestrated the entire investment scheme.
Among the arrested individuals, Sushil, who previously ran a security agency, was detained at Delhi airport while attempting to board a flight to Thailand. Udham Singh and Sanjeev were arrested earlier and were reportedly unemployed, relying on family farming for support.
According to Inspector Yudhveer Singh of the Cyber Crime Police Station in Panchkula, investors were misled into believing their funds were rapidly growing through manipulated figures on fake mobile applications. In one case, an investment of approximately Rs 30 lakh was falsely reported to have increased to Rs 68 lakh within six months. Ashok stated that whenever he attempted to withdraw his funds, he was informed that they had been reinvested in cryptocurrency and other ventures.
Police officials revealed that investors were repeatedly assured that properties in Dubai had been secured for them, while the applications displayed inflated returns. The accused encouraged participants to transfer their investments to various platforms under the guise of higher profitability.
The investigation is focusing on platforms and schemes operating under various names, including Bloom Drive, LPNT Cryptocurrency, MSVP (Meta Soil Verse Plan), SOIL VERSE, and Mechai FX. Reports indicate that Rajesh has emerged as a focal point in the inquiry, with connections to an online portal called Bloom Company, which was reportedly introduced to him by a friend.
Rajesh initially invested a small amount before escalating to larger sums on different platforms after Bloom ceased operations. He is said to have drawn in others to these money-making schemes, attending promotional seminars in Chandigarh and Mohali where he encouraged investments through meetings and online channels.
Law enforcement claims that Rajesh earned substantial commissions for recruiting investors and was later appointed as a Senior Project Head within the organization. According to police reports, he claimed to have received a Mercedes C-class as a gift and to have earned Rs 2 crore in a short period.
The investigation is also probing the alleged connections to Dubai, with authorities seeking to apprehend additional suspects who may have fled abroad. A Look-Out Circular has been issued for two individuals believed to be in Dubai.
Panchkula Police Commissioner Pankaj Nain has issued a warning to the public regarding online investment schemes, particularly those related to cryptocurrency and stock trading that promise excessively high returns.
Hina Rohtaki serves as a Special Correspondent at T…
