Three plots of land belonging to a scammer were temporarily attached by the recently formed Joint Task Force (JTF) on cybercrime as part of a significant crackdown on online cyber fraud.
Two plots in Sri Ganganagar and one in Jaipur were reportedly seized by the Income Tax authorities in accordance with the Prohibition of Benami Property Transactions Act (PBPT). These belonged to Malkeet Singh, the father of Karamjit Singh, one of the main suspects in the multi-crore CAPPMOREFX fraud that the Rajasthan Police are now looking into. According to authorities, the scheme is valued between Rs 8,000 and Rs 10,000 crore.
The Director General of Income Tax (DGIT) in Jaipur is the convener of the newly established JTF, which is led by the Regional Economic Intelligence Council (REIC). It is made up of several agencies, including the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), Income Tax Department, and Rajasthan Police (CID-CB, SOG, and DGP Cybercrime).
This is the JTF’s first coordinated operation, demonstrating heightened efforts by the federal and state governments to combat cybercrime. In order to protect residents against fraud, police authorities have also stated that crackdowns on further offenses of this nature will come.
During the JTF’s inaugural meeting on February 7, 2025, the Superintendent of Police (SP), Cybercrime, Jaipur, revealed intelligence that prompted the move, according to a senior official with knowledge of the incident.
“Police probes revealed that in 2022, accused persons Ajay Arya, his father Lajpat Rai Arya, Deepak Arya, and Karamjit Singh formed CAPPMOREFX in Vijayapur, Karnataka. They reportedly enticed victims by promising online forex trading courses in the name of ‘Teachable Tech’ using social media. Under the disguise, the accused is said to have operated a Ponzi scheme, offering exponential returns on investments in cryptocurrency,” a senior government official said.
“Early investors were paid double their amount at first, but they were later persuaded to bring in friends and family. Police have so far received over 76,000 complaints of cyber fraud associated with the scam online, and losses could be running into thousands of crores,” the official added.
Additionally, investigations have shown that the money obtained unlawfully was used to buy houses under the names of acquaintances and family. The financial and beneficiary trail is still being investigated.
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