Rs 2,283 crore pan-India investment scam busted, 2 arrested in delhi

The Madhya Pradesh Special Task Force (STF) has unveiled a pan-India investment scam amounting to approximately Rs 2,283 crore. The authorities arrested two masterminds, Deepak Sharma and Madan Mohan Kumar, in the case from Delhi.

The fraud involved duping thousands of investors across seven states under the guise of online trading platforms like BotBro, operated via shell firms Yorker FX and Yorker Capital.

The case came to light after a resident of Indore, Ishaan Saluja, filed a complaint claiming he was promised monthly returns of 6-8% on his Rs 20.18 lakh investment.

Investigations revealed that the accused had been collecting funds from investors into the accounts of Rainet Technology Pvt Ltd and Kindent Business Solutions Pvt Ltd, later converting the money to USD for forex trading via Meta-5 accounts.

The STF has frozen around Rs 90 crore across over 20 suspicious bank accounts.

The investigation also revealed that Kindent Business Solutions Pvt Ltd declared a trial balance of Rs 1.10 crore for FY 2023-24 to the MCA (Ministry of Corporate Affairs), whereas actual transactions in its bank accounts from January 2023 to December 2024 total around Rs 7,020 crore.

Similarly, Rainet Technology Pvt Ltd claimed a trial balance of Rs 7.80 crore for FY 2023–24, while transactions in the same period amounted to Rs 15,800 crore. Combined, both companies received approximately Rs 22,830 crore across 16 bank accounts, with funds later transferred to other unidentified accounts.

Both companies operated without being registered with RBI or SEBI, violating multiple financial and regulatory norms.

The Enforcement Directorate (ED) is also probing the case under the FEMA Act and the fraudulent BotBro website has since been taken offline.

The accused have admitted to cheating people in Madhya Pradesh, Maharashtra, Uttar Pradesh, Rajasthan, Tamil Nadu, Himachal Pradesh and Assam.