Ponzi scheme ensnares over 700 people from Meghalaya

SHILLONG, Sep 15: Many citizens from Meghalaya, including those from Shillong and the Garo Hills region, have invested in an international Ponzi scheme.
As per reports, over 700 citizens have invested in this Ponzi scheme over the past two years. The fraud scheme operates internationally, and the police have managed to establish that some of the accounts are being operated from Hong Kong.
When contacted on Sunday, SP (City) Pankaj Kumar Rasgania revealed that many people have invested substantial amounts into this fraudulent investment scheme, expecting high and quick returns.
He informed that several people have been arrested in connection with the case and that more than eight cases have been registered, both in Khasi and Garo Hills.
“We are still continuing with the investigation,” said Rasgania, who also heads the cyber wing of the state police.
He further revealed that some individuals had invested lakhs of rupees into the scheme. According to him, the scam amounts to over Rs 1 crore.
Meanwhile, Rasgania said that those arrested have disclosed their modus operandi during interrogation.
“From the mobile phones we seized, we have managed to establish that this is a transnational scam linked to accounts operated from Hong Kong,” SP (City) said.
He also revealed that the cyber wing of the state police has managed to block Rs 2.42 crore through the National Cyber Crime Reporting Portal, which could have been lost to cyber fraud.
Rasgania added that there is a higher chance of recovering the money if citizens report cyber fraud within 24 hours.
He also alerted citizens about the scam, which is operated via the “Datameer” or “DAAI” app.
According to him, in the last two years, there has been a significant rise in investment scams involving such apps. These apps cease to process withdrawals, exposing them as fraudulent.
Furthermore, the SP (City) said that cybercrime in Meghalaya has increased eightfold in the past two years, as indicated by the calls recorded at the National Cyber Crime Helpline (1930).