Jaipur: The Special Operations Group (SOG) of Rajasthan Police Thursday arrested a 34-year-old man for his alleged role in a cryptocurrency-based investment fraud that investigators said enrolled thousands of people through social media schemes promising unusually high returns.Additional director general (SOG) Vishal Bansal identified the accused as Suresh Saini (34), a resident of Beerani village under Bhopalgarh Police Station in Jodhpur district. He was arrested in connection with a case registered at the SOG Police Station in Jaipur. Police said the fraud was operated by a gang led by Banshilal alias Prince Saini, which promoted investment schemes through social media platforms and a website where investors could register IDs starting from Rs 250. Investigators said around 82,000 people were enrolled through the platform. The group also floated a company named Harvest AI Technology Private Limited and promoted a digital currency called “HVT Coin” to attract investors. According to police, the gang collected about Rs 4.92 crore through online transactions using payment gateways and bank accounts. Officials said a promotional event organised in Bhopalgarh, where rewards including vehicles were announced, brought in an additional Rs 15 crore from investors. During the investigation, SOG found that Suresh Saini targeted rural residents by offering schemes such as a Scorpio vehicle for about Rs 6 lakh. Police said he collected nearly Rs 3.5 crore from about 56 people and created more than 1,100 investor IDs on the platform. Officials said Saini received a Scorpio vehicle as commission for bringing investors into the scheme. The vehicle was seized. Police said the main accused, Banshilal alias Prince Saini, Mamta Bhati and Dinesh Bagri, were arrested earlier, and a charge sheet was filed in Dec 2025. Suresh Saini was produced before a court in Jaipur and remanded to police custody until March 12. Further investigation is under way to trace additional investors, bank accounts and digital wallets linked to the fraud.
