₹50 Crore Fake Investment Scam: Directors Arrested in Delhi

Delhi-based directors Devendra Sharma and Nikhil Luthra of Terrapulse Private Ltd have been arrested by Rajasthan Police’s cyber crime unit, dismantling an interstate fraud operation that swindled investors out of over ₹50 crore.

This massive scam lured victims with fake online trading and IPO investment platforms, promising huge returns on both Indian and US stock markets.

What Happened?

The duo operated deceptive platforms like ‘Vikasa Capital’, using Google and social media ads to attract unsuspecting investors.

Victims were convinced to install fraudulent investment apps via WhatsApp and Telegram links, with fraudsters initially allowing small withdrawals to build false trust.

A Jaipur doctor lost ₹61.77 lakh after investing in a supposed “Satkar Shopping IPO”; attempts to withdraw further funds were blocked, and the perpetrators vanished.

Investigators traced the illicit money, revealing over ₹25 crore flowed through Terrapulse Private Ltd bank accounts, linked to more than 250 cybercrime complaints and 50+ FIRs nationwide.

Why It Matters

This incident highlights a critical risk in the digital investment landscape, especially for new investors drawn to high-return promises without due diligence.

The use of seemingly legitimate company accounts, like those of Terrapulse Private Ltd, for money laundering signals sophisticated fraud tactics targeting trust.

The scale of the fraud, estimated between ₹50-60 crore affecting at least 40 victims directly, underscores the need for extreme caution when engaging with unsolicited investment opportunities.

What to Watch Next

Authorities are now scrutinizing how Terrapulse Private Ltd’s current accounts remained active despite being flagged in numerous cybercrime complaints, hinting at potential systemic gaps.

Investors should remain vigilant against platforms promising guaranteed high returns, always verifying regulatory status and performing thorough background checks before committing funds.

Expect intensified efforts from law enforcement to track the full money trail and uncover any broader network involved in this interstate cyber fraud operation.