Cyber Crime Police in Gujarat’s Amreli have busted an alleged multi-crore investment scam operating through mobile applications and arrested six persons in connection with the fraudulent operation. Investigators revealed that the accused used platforms named SD Pay and Apna Pay to target between 1.5 lakh and 2.5 lakh people across the country, enticing them with promises of lucrative daily earnings. Financial tracking by authorities has already traced suspicious transactions amounting to approximately ₹634 crore, prompting a broader scrutiny of corporate entities, personal bank accounts, and additional individuals connected to the network.
Tiered Daily Returns and Multi-Level Referral Commissions
The fraudulent scheme was aggressively promoted across digital channels and social media platforms to lure retail investors with promises of guaranteed daily payouts based on the deposited amount. According to investigators, participants depositing between ₹1,000 and ₹25,000 were promised a daily return of 0.15%, while deposits ranging from ₹25,000 to ₹1 lakh offered a return of 0.20% per day. For higher investments between ₹1 lakh and ₹5 lakh, the scheme promised 0.25% daily, which climbed to 0.30% per day for funds exceeding ₹5 lakh.
To accelerate recruitment, the operators introduced a multi-tier referral system offering commissions ranging from 3% to 30% spread across 15 levels. This incentive structure spurred rapid network expansion, pushing the SD Pay application past one million downloads on the Google Play Store and channeling thousands of contributors into the scheme.
Corporate Entities and Dispersed Bank Accounts
During the probe, police discovered that investor deposits were systematically routed away from any single repository to obscure transaction trails. The accused allegedly established or operated multiple business entities, including S.D. Hub (OPC) Private Limited, Shiv Dharti Communication, and Upay Digi Payment India, to collect and channel the funds. Records show that approximately ₹634 crore was deposited across 15 corporate accounts linked directly to these companies.
Investigators have also flagged between 30 and 35 personal bank accounts associated with the accused individuals. Forensic examination of these accounts is currently underway to ascertain how funds were layered across multiple accounts, trace the original source and ultimate destination of the proceeds, and determine how the collected money was distributed or utilized.
Six Accused Arrested as Nationwide Inquiries Expand
A Special Investigation Team arrested six suspects, identified as Suryasinh Rathod, 24, of Mansa in Gandhinagar; Ashish Gedia, 38, and Bhavesh Chauhan, 41, both natives of Savarkundla residing in Surat; Nishi Prasad, 47, a resident of Mehsana originally from Bihar; Sohil Makwana, 26, from Mehsana; and Niravkumar Patel, 32, of Balol in Mehsana. A case has been registered at the Amreli Cyber Crime Police Station under relevant sections of the Bharatiya Nyaya Sanhita, the Banning of Unregulated Deposit Schemes Act, the Gujarat Protection of Interest of Depositors Act, and the Information Technology Act.
The investigation indicates a pan-India footprint, with checks on the National Cyber Crime Reporting Portal revealing 83 cyber fraud complaints registered across different regions against 12 bank accounts linked to the operation. Police are continuing their probe to map the complete flow of the ₹634 crore, identify additional companies and bank accounts, and trace other suspects involved in the network.
