A multi-crore investment syndicate that duped unsuspecting individuals with promises of unrealistically high earnings has been dismantled by law enforcement authorities. Two individuals have been taken into custody for running an elaborate scam that defrauded investors of roughly 100 crore under the pretext of real estate ventures and digital asset placements in Jaipur. Acting swiftly on the financial trail, investigators have frozen a bank fixed deposit worth 1 crore and impounded luxury vehicles, including a Mercedes car and a Triumph motorcycle valued at around 1.25 crore.
Key Suspect Nabbed in Gurgaon Followed by Accomplice in Jaipur Rural
The arrested suspects have been identified by police as Mohit Kaloya and Ghanshyam Kandel. Operatives tracked down and apprehended the principal accused, Mohit Kaloya, from Gurgaon. Acting on leads obtained during his preliminary questioning, law enforcement teams subsequently raided a hideout in the Jaipur rural belt to capture his associate, Ghanshyam. The entire operation leading to their arrests was executed by personnel from the Sodala police station.
Lure of Easy Way Homes and Fabricated Digital Token Portals
Inquiries revealed that the accused orchestrated their scheme through an entity named Easy Way Homes, using property projects and investment pitches to promise massive payouts. Alongside physical real estate lures, the duo also exploited public interest in blockchain investments, particularly USDT. They created counterfeit digital platforms to divert funds, with technical investigations exposing fraudulent coin portals operating under the names Flinty-io and Flinty-live to deceive prospective contributors into parting with their capital.
Multiple Police Complaints Registered as Digital Devices Face Scrutiny
The scale of the swindle is reflected across four different police stations in Jaipur, where FIRs accounting for approximately 100 crore in illicit transactions have been registered against the syndicate. During the arrest operations, police recovered an array of electronic gadgets, including desktop computers, laptops, and mobile phones from the possession of the accused. Digital forensics teams are actively examining these devices to map out the financial transactions, identify the extent of affected investors, and uncover any wider associate network involved in the operation.
