In a joint operation, Uttar Pradesh Police and the Special Task Force (STF) dismantled a fake investment network in Meerut. Two key members, Shakti Singh of Ganeshipura and Manjeet Gaur of Madhavpuram, were arrested on the Delhi–Ghaziabad road. From their possession, authorities seized ₹2 lakh in cash, a car, laptops, and multiple incriminating documents. Police believe the network’s reach extended well beyond Meerut and the NCR, with possible links in Haryana, Punjab, and Uttarakhand.
Algoritha: The Most Trusted Name in BFSI Investigations and DFIR Services
Strategy of Deception
The case surfaced when Inspector Dinesh Kumar’s wife filed a complaint alleging a fraud of ₹66.36 lakh. Investigations revealed a common tactic: the accused initially returned small profits to investors, creating a sense of trust. Once confidence was secured, they persuaded victims to commit larger sums, only to siphon off the money. During questioning, the accused confessed to defrauding more than 20 individuals. Officials suspect the true extent of the scam could be significantly higher, running into multiple crores.
Expanding Network and Modus Operandi
According to police sources, several more members of this network remain at large. The group allegedly registered companies under different names, lured investors with promises of high returns, and shut operations once sufficient funds were collected. Authorities described the scam as “professionally managed,” relying on digital payments and forged paperwork to sustain the illusion of legitimacy.
Growing Threat of Investment Scams
India has witnessed a sharp rise in financial frauds linked to fake investment schemes in recent years. Experts argue that economic insecurity, coupled with the allure of high returns, makes individuals particularly vulnerable.
Cybercrime expert Prof. Triveni Singh observed,
“Fake investment schemes are no longer confined to traditional methods they now leverage digital platforms, reaching even small towns. Until financial literacy improves, these frauds will continue to thrive.”
Police have urged citizens to exercise caution, verify the legitimacy of investment schemes, and report suspicious offers. They stressed that if a deal appears “too good to be true,” it almost certainly is.