Tue Nov 12 07:11:28 UTC 2024: ## 19-Year-Old Instagram Influencer Arrested for Defrauding Over 200 People in Rajasthan
**Ajmer, Rajasthan:** A 19-year-old man, Kashif Mirza, has been arrested for allegedly duping over 200 people of approximately Rs 42 lakh through a fake investment scheme. Mirza, a class 11th student and social media influencer with a large following on Instagram, lured victims with promises of substantial profits.
Mirza offered a lucrative scheme where investors would receive Rs 1,39,999 after investing Rs 99,999 for 13 weeks. To gain credibility, he initially paid out profits to a few investors, encouraging them to recruit more people.
Police have recovered a Hyundai Verna car, a cash counting machine, phones, and laptops from Mirza. He has been sent to a two-day police remand for further investigation.
This incident highlights the importance of conducting thorough research before investing. Fraudsters often offer unrealistic guaranteed returns and lack transparency in their investment strategies. Investors are advised to verify the legitimacy of companies and individuals promoting investment schemes by checking if they are regulated by relevant financial authorities.
First Piper 