(Reported By Srivatsan And Sahil Khan)
A notorious cryptocurrency scam operated by a 10th-grade dropout has duped hundreds of people, including businessmen and property dealers, promising them tenfold returns on investments as low as one rupee. The fraudster, along with his girlfriend, ran a large racket across Rajasthan, Madhya Pradesh, Bihar, and West Bengal.
Rajesh Saini, from Bhiwadi (Alwar), lured victims by selling dreams of overnight wealth through digital coins, claiming, “Invest 1 rupee, get 10.” Starting from a beer bar in Alwar, where Pradeep Solanki became the first victim, losing Rs 35 lakh, the scam spread rapidly. Many others, including property dealer Ramkishore Yadav, who lost Rs 7 lakh, Rahul Kansala, whose daughter’s wedding fund of Rs 8 lakh was lost, and Imrat Khan with Rs 7 lakh, fell prey to the scheme. Overall, the fraud caused losses amounting to crores.
Victims report that Rajesh and his girlfriend Heena, hosted lavish parties in Dubai, danced on luxury cruises, and used photos of a fake upscale office to convince people of their legitimacy. However, after collecting huge sums, they disappeared, leaving the victims empty-handed.
Investigations show that the scam’s reach extended beyond Rajasthan to UP, Bihar, Bengal, and even Pakistan. Despite this, police have been unable to track down the duo. This case goes beyond listing the fraud and raises issues about why the system allows it to happen and why some keep getting fooled.
This case reminds investors not to believe in easy ways to earn money in cryptocurrency, especially if someone claims they can make you rich overnight.
