Pramesh S Jain
A large-scale financial fraud involving crores of rupees has come to light in Bengaluru,where several individuals allegedly duped investors under the pretext of “money doubling” schemes using so-called AI-based trading platforms.
The accused have been identified as Rajesh Kamat, Madhu,and Nageshappa,who allegedly operated the scam under the name “Crystal AI Robot Trading Platform.” 
Police investigations reveal that the fraudulent network has been active for the past two to three years,targeting investors across Karnataka and even abroad.
According to officials,the accused lured victims by promising to double their investments within 200 days through automated AI trading systems.
They reportedly set up an office near Kengeri Railway Station in Bengaluru in the initial phase to gain credibility and attract investors.
The scam followed a chain-link or multi-level marketing model,with around 50 individuals actively involved in expanding the network.
Agents were appointed to mobilize funds from the public, convincing them to invest large sums with assurances of high returns.
A significant number of victims are said to be from the coastal regions of Dakshina Kannada district, along with investors residing overseas.Many were drawn in by the promise of quick and substantial profits.
Police sources indicate that the accused later shut down operations locally and continued their activities under the guise of a network business,allegedly even setting up links in Dubai to sustain the fraud.
The Bengaluru Central Crime Branch (CCB) has taken up the investigation and is currently interrogating the accused.
Notably,the suspects had previously been arrested in connection with similar offences and were out on bail after allegedly defrauding investors of crores.
Authorities have urged the public to remain cautious and avoid schemes that promise unusually high returns in a short period,as such offers are often linked to financial frauds.Further investigation is underway.
