India Rajasthan Police Arrests 34-Year-Old in Multi-Crore Crypto Fraud

The India Rajasthan Police Special Operations Group (SOG) has arrested 34-year-old Suresh Saini for his role in a large-scale cryptocurrency investment scam that defrauded thousands of investors.

Police stated that Saini, a resident of Jodhpur district, was apprehended in connection with a scheme orchestrated by Banshilal (alias Prince Saini) and his gang. The fraudsters promoted investments through social media and a website, allowing registration for as little as ₹250. Approximately 82,000 people signed up.

The gang created a company, Harvest Al Technology Private Limited, and launched a digital currency called "HVT Coin," promising unrealistic returns. Investigators estimate they illegally raised over ₹4.92 crore through online transactions. At a promotional event in Bhopalgarh, they collected an additional ₹15 crore by offering vehicles as rewards.

Saini specifically targeted rural residents, luring them with promises of vehicles like a Scorpio worth ₹6 lakh. He allegedly defrauded about 56 people of nearly ₹3.5 crore and created over 1,100 investor IDs. Saini received a Scorpio car as commission for recruiting investors; the vehicle has been seized.

Principal accused Banshilal, Mamta Bhati, and Dinesh Bagri were arrested earlier, with a chargesheet filed in December 2025. Saini was remanded in police custody until March 12 as investigations continue to trace more investors and financial trails.