Tue Nov 12 07:11:28 UTC 2024: ## Ajmer Teen Arrested for Allegedly Defrauding Over 200 People Through Fake Investment Scheme
**Ajmer, Rajasthan:** A 19-year-old social media influencer, Kashif Mirza, has been arrested in Ajmer for allegedly defrauding over 200 people of approximately Rs 42 lakh through a fake investment scheme. Mirza, a class 11th student, used his large Instagram following to entice victims with promises of substantial profits.
Mirza’s scheme promised a return of Rs 1,39,999 for an investment of Rs 99,999 over 13 weeks. To lure more investors, he initially paid out profits to some early participants, creating a facade of legitimacy.
Police recovered a Hyundai Verna, a cash counting machine, phones, and laptops from Mirza’s possession. He has been remanded to police custody for two days.
This case highlights the increasing prevalence of online investment scams. Experts advise individuals to conduct thorough research before investing, being wary of schemes promising guaranteed returns and lacking transparency. It is crucial to verify if investment companies and individuals are regulated by relevant financial authorities.
First Piper 