AI-Driven Ponzi Scheme Uncovered: 3,000 Victims Defrauded
An AI-powered Ponzi scheme was dismantled with the arrest of two individuals. The fraud collected Rs 850.59 crores from over 3,000 victims across several states, with Rs 232.36 crores retained fraudulently. The operation involved fake stock predictions, and intricate laundering of money, targeting middle-class families.
- Country:
- India
An elaborate financial fraud, leveraging AI-driven investment platforms and Ponzi tactics, was exposed as authorities apprehended two suspects involved in cheating more than 3,000 individuals across various states.
Police revealed that the perpetrators promised investors steady monthly returns using deceptive stock market prediction software. The scheme collected Rs 850.59 crores during 2022–25, with fraudulent retention of Rs 232.36 crores.
The operation, dismantled with arrests in Hyderabad, utilized fake certifications, seminars, and a Ponzi structure, funneling funds into real estate and luxury items and employing international laundering channels.
(With inputs from agencies.)
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