Two Arrested for Operating ₹25 Crore Ponzi Scheme in Belagavi

Police have arrested two individuals in Belagavi, Karnataka, for allegedly orchestrating a fraudulent investment scheme. Authorities report that the suspects successfully duped numerous customers, swindling a total of ₹25 crore. The investigation is currently underway as law enforcement officials track the missing funds and identify additional potential victims.

The accused reportedly enticed investors with promises of high financial returns, a common hallmark of ponzi-style operations. Following complaints from affected investors, police launched an inquiry that led to the identification and subsequent apprehension of the two primary suspects. Officials are now working to determine how long the illegal operation functioned and whether other accomplices remain at large.

This incident highlights the ongoing challenges of regulating unlicensed investment schemes that target vulnerable citizens in regional urban centers. Residents in the region are cautioned to verify the registration of financial entities before depositing savings. Legal proceedings against the suspects will follow, with police expected to provide further details regarding recovery efforts in the coming days.