Crypto scam network spread across states:Indore hotel meetings used to trap investors in forex and crypto fraud

Indore Crime Branch has exposed a large-scale fraud racket that allegedly cheated people of crores of rupees in the name of crypto currency and forex trading investments. The network was reportedly spread across multiple states including Chandigarh, Bengaluru, Delhi, and Bhopal. Police have arrested one woman accused in the case, while several others remain absconding. According to DCP Rajesh Tripathi, cases have been registered against Harpreet Kaur alias Mona (Indore), Jaswant Singh alias Jassi (Chandigarh), Anirudh Dalvi (Bengaluru), Mukesh Tayade, and Joseph (Bhopal) for cheating and fraud. Promise of doubling money in 100 days used to lure investors The accused allegedly lured investors by promising to double their money within 100 days and initially offering 2% returns. However, victims claim that neither the promised profits nor their principal amounts were returned. Multiple complaints have been filed by victims including Jiya Wadhwani (wife of Satish Wadhwani), Gurjeet, Abhishek, Jasrath, Amarjeet, Hanni, Sahil, Rohit, Pankaj, Gurmeet Kaur, and others. Fake US-based company created to build credibility Investigation revealed that the accused created a fake US-based company named “A Square World Global Consultancy” to attract investors. Harpreet Kaur allegedly collected around ₹2.5 crore from investors into personal and company-linked bank accounts. Hotel seminars in Indore used to trap victims Victims said they were first introduced to Harpreet Kaur through social gatherings such as kitty parties, where she claimed affiliation with a US-based company. She later introduced investors to associates Jaswant Singh and Anirudh Dalvi at Hotel Solaris in Bhawarkuan, Indore, where investment plans were explained. A major seminar was also held at Hotel Radisson, where around 200 people attended. During the event, attendees were promised high returns and expensive gifts to encourage investment. Online meetings and excuses used to delay payments After March 2025, investors reportedly stopped receiving any payments. When questioned, Harpreet Kaur allegedly claimed that the company’s website was under maintenance and payments would resume soon. Even in April, similar excuses were given. Later, accused individuals held an online meeting via Zoom, where they again assured investors of repayment, but no money was returned. Threats issued after investors demanded refunds When investors demanded their money back, the accused allegedly refused, stating that the company had collapsed and no payments would be made. Following increasing pressure, the accused stopped all communication with victims. Police investigation underway, key accused arrested A complaint was filed with the Crime Branch, after which Harpreet Kaur was arrested. Police are continuing efforts to trace the remaining accused. Authorities are also examining bank accounts, financial transactions, and the wider network linked to the fraud case to identify additional suspects and recover funds.