CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: Massive ₹10,000 Crore Fraud Unveiled in the Name of Government Schemes A massive scam involving ₹10,000 crore has come to light, spanning 16 states across India. Over 4 lakh people fell victim to the fraud, lured by the promise of high returns. This elaborate scheme operated for 15 years, using fake documents and government emblems to mislead the public.
How Was the Scam Carried Out?
Fraudsters promised investors returns ranging from 12% to 20% under the guise of government schemes. States like Madhya Pradesh, Uttar Pradesh, Maharashtra, Rajasthan, and Gujarat witnessed large-scale deception. Fake companies were established, and as the investments grew, these companies vanished without a trace.
How to Identify Such Frauds?
Experts have shared tips to avoid falling prey to such scams:
Be cautious of schemes guaranteeing high returns.
Verify the company’s background and licenses.
Avoid making rushed investment decisions.
Cross-check information on government websites or with accredited institutions.
Government’s Response
The government has intensified investigations, identifying several fake companies and individuals involved. Authorities have urged the public to report any suspicious schemes immediately.
Victims’ Plight
Victims revealed they lost their entire life savings. One victim shared, “We were told this was a government-approved scheme and completely safe. We invested everything, but now it’s all gone.”
How to Protect Yourself?
Always verify the authenticity of an investment scheme.
Invest only in accredited institutions.
Be cautious of promises of high returns.
Report suspicious schemes to relevant authorities immediately.
Conclusion:
This ₹10,000 crore scam under the pretext of government schemes serves as a wake-up call for the nation. Vigilance, awareness, and informed decisions are crucial for financial security.
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