In a major crackdown, police in Indore have uncovered a large-scale investment fraud operation that allegedly duped investors across the country by promising high returns in the stock market.
The racket was being run under the guise of an IT firm, identified as Infinix Infotech Private Limited, which operated as a fake advisory company. Authorities conducted a raid at its office located opposite the Basketball Complex, leading to the seizure of a significant quantity of digital equipment and the detention of three individuals.
Organised Network with Large Workforce
Investigations revealed that the company had employed over 200 young men and women, assigning them targets and offering attractive incentives to lure unsuspecting investors. Using scripted pitches, specialised software, and digital tools, employees allegedly persuaded victims to invest in fraudulent schemes.
According to police, multiple directors were involved in running the operation. Those named in the case include Manish Pandey, Animesh Chauhan, Sandeep Tyagi, Anurag Sandlani, and Neha Jain. A case has been registered against them, and further investigation is underway.
Modus Operandi
One complainant, Nitish Bhagat, told police that he received a call offering lucrative stock market investment opportunities. When he expressed lack of knowledge, he was guided by a woman associated with the firm and gradually convinced to invest.
Through a mobile application and software interface, the victim was shown fabricated profits to build trust. Over time, he was persuaded to invest larger sums, including approximately ₹4.8 lakh under the pretext of purchasing a trading terminal. The fraud came to light when he attempted to withdraw the funds and realised he had been deceived, prompting him to file a complaint.
Massive Seizure of Digital Equipment
During the raid, police seized a large number of devices, including 23 CPUs, 14 laptops, DVR systems, monitors, 66 mobile phones, 28 SIM cards, and cheque books. These were allegedly used to carry out fraudulent calls and messaging campaigns targeting individuals across India.
Station in-charge Jitendra Singh Yadav stated that the network was not limited to Indore and had been targeting investors in multiple states. Preliminary estimates suggest that the fraud amounts run into several lakhs, with the possibility of the total scale reaching crores as the investigation progresses.
Ongoing Investigation
Police are continuing a comprehensive probe to uncover the full extent of the network and identify additional accused. Forensic analysis of the seized electronic devices is expected to yield further crucial evidence.
Authorities have also urged the public to exercise caution while investing, particularly when approached through unsolicited calls or online platforms, and to verify the authenticity of financial advisors before committing funds.
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