Fraudsters Promised 1.3% Daily Return to Investors
Surat Cyber Crime Cell has exposed a major online investment fraud operating under the name “BG Wealth Sharing,” where investors were allegedly lured with promises of high daily returns and MLM-based commission benefits.
The cyber crime team conducted a raid at an office near Sosyo Circle, Udhna-Bamroli Road in Surat and arrested two accused involved in the fraudulent operation. Police officials said the accused were running a fake trading and investment scheme that targeted people through social media and personal contacts.
Scheme Claimed Investment Would Double in 54 Days
According to the police investigation, the accused convinced people to invest money through a suspicious platform linked to “BG Wealth Sharing” and a fake trading website. Investors were promised around 1.3% compounded daily returns, with claims that their money would double within 54 days.
Police said the accused also used a multi-level marketing (MLM) structure where investors were encouraged to bring in more members in exchange for commissions and bonus rewards.
How the MLM Fraud Worked
- Investors were asked to create IDs on an app called BonChat
- Initial investments ranged between 300 to 1000 US dollars
- Members earned commissions for referring new users
- Higher “levels” promised bigger commissions
- Money collected from investors was allegedly transferred to absconding masterminds
Cyber Crime Team Conducted Raid in Surat
Operation Led Under Guidance of Senior Police Officials
The raid was conducted after the Surat Cyber Crime Cell received confidential information regarding illegal online investment activities operating from an office in Surat.
The operation was carried out under the guidance of senior police officials, including officers from the cyber crime department.
Police arrested:
- Neeraj Singh Rajput
- Ajay Singh Rajput
Officials said both accused played active roles in convincing people to invest in the scheme and creating investor IDs on the application.
Thousands of Fake Investment IDs Created
Police Suspect Large Number of Victims
During interrogation, investigators discovered that the accused had allegedly created hundreds to thousands of investment IDs for customers.
Police stated:
- One accused allegedly created over 1,000 IDs
- Another accused reportedly created over 500 IDs
- Multiple investors may have been cheated across regions
Authorities are now tracing the financial transactions and identifying additional victims linked to the fraud network.
Cash, Mobile Phones Seized During Raid
Police Recover Nearly Rs 4 Lakh
During the operation, the cyber crime team seized:
- Two mobile phones
- One cash counting machine
- Cash amount worth Rs 3.71 lakh
The total seized property is estimated at approximately Rs 3.93 lakh.
Police are also searching for other accused persons who are currently absconding.
Cyber Police Issue Warning to Citizens
Avoid High-Return Investment Traps
After exposing the scam, Surat Cyber Crime Police urged citizens not to trust schemes offering unrealistic returns or quick profits.
Officials advised people to:
- Verify companies before investing
- Avoid blindly trusting social media investment tips
- Stay cautious of MLM and referral-based schemes
- Research platforms thoroughly before transferring money
Police also reminded citizens to immediately contact the national cyber fraud helpline 1930 in case of online financial fraud.
Investigation Continues
Police Tracking Main Masterminds
The cyber crime department is currently investigating the larger network behind the fraud. Officials suspect that more people may be involved in operating and promoting the scheme. Technical analysis, digital evidence, and transaction records are being examined to track the main masterminds and money trail.
Authorities have appealed to anyone who invested in the platform to contact Surat Cyber Crime Police immediately.
The exposure of the BG Wealth Sharing investment scam highlights the growing risk of fake online trading and MLM fraud schemes targeting investors with promises of quick profits. Surat Cyber Crime Police continue to investigate the network while urging citizens to stay alert against digital financial scams.
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