Cyber Crime Police in Gujarat's Amreli have busted an alleged multi-crore investment scam operating through mobile apps, arresting six people in connection with the fraudulent operation. Investigators say the accused used platforms called SD Pay and Apna Pay to target between 1.5 lakh and 2.5 lakh people across the country, luring them with promises of lucrative daily earnings. Financial tracking has already traced suspicious transactions amounting to approximately ₹634 crore, and authorities are now scrutinising corporate entities, personal bank accounts, and additional individuals connected to the network.
Tiered Returns Designed to Draw in Bigger Deposits
The scheme was aggressively promoted across digital channels and social media, luring retail investors with promises of guaranteed daily payouts scaled to deposit size. According to investigators, participants depositing between ₹1,000 and ₹25,000 were promised a daily return of 0.15%, while deposits between ₹25,000 and ₹1 lakh offered 0.20% per day. Higher investments, ₹1 lakh to ₹5 lakh, promised 0.25% daily, climbing further to 0.30% per day for anything above ₹5 lakh, a tiered structure clearly designed to nudge investors toward putting in progressively larger amounts.
To accelerate recruitment further, the operators layered in a multi-tier referral system offering commissions ranging from 3% to 30%, spread across 15 levels. This incentive structure drove rapid network expansion, pushing the SD Pay app past one million downloads on the Google Play Store and pulling thousands of contributors into the scheme, classic pyramid-style growth where each new recruit's investment helped fund payouts to those already inside the network.
A Web of Companies and Scattered Bank Accounts
During the probe, police found that investor deposits had been systematically routed away from any single repository, deliberately obscuring the transaction trail. The accused allegedly set up or operated multiple business entities, including S.D. Hub (OPC) Private Limited, Shiv Dharti Communication, and Upay Digi Payment India, specifically to collect and channel funds. Records show approximately ₹634 crore was deposited across 15 corporate accounts linked directly to these companies.
Investigators have also flagged between 30 and 35 personal bank accounts associated with the accused individuals. Forensic examination of these accounts is now underway, aimed at establishing how funds were layered across multiple accounts, tracing both the original source and ultimate destination of the proceeds, and determining exactly how the collected money was distributed or ultimately used.
Six Arrested as the Investigation Expands Nationally
A Special Investigation Team arrested six suspects: Suryasinh Rathod (24) of Mansa in Gandhinagar; Ashish Gedia (38) and Bhavesh Chauhan (41), both natives of Savarkundla currently residing in Surat; Nishi Prasad (47), a Mehsana resident originally from Bihar; Sohil Makwana (26), from Mehsana; and Niravkumar Patel (32), of Balol in Mehsana. A case has been registered at the Amreli Cyber Crime Police Station under relevant sections of the Bharatiya Nyaya Sanhita, the Banning of Unregulated Deposit Schemes Act, the Gujarat Protection of Interest of Depositors Act, and the Information Technology Act.
The investigation points to a genuinely pan-India footprint: checks on the National Cyber Crime Reporting Portal revealed 83 cyber fraud complaints registered across different regions against 12 bank accounts linked to this operation. Police are continuing to map the complete flow of the ₹634 crore, identify additional companies and bank accounts, and trace other suspects believed to be connected to the wider network.
FAQs
Q1. How many people were allegedly targeted by this scheme?
Between 1.5 lakh and 2.5 lakh people across the country, through the SD Pay and Apna Pay mobile applications.
Q2. How much money has been traced so far?
Approximately ₹634 crore in suspicious transactions, spread across 15 corporate accounts linked to entities allegedly controlled by the accused.
Q3. How did the scheme structure its promised returns?
Daily returns ranging from 0.15% for smaller deposits up to 0.30% for deposits above ₹5 lakh, alongside a multi-tier referral system offering 3% to 30% commissions across 15 levels.
Q4. Is this investigation limited to Gujarat?
No. The National Cyber Crime Reporting Portal shows 83 complaints registered across different regions of the country, linked to 12 bank accounts connected to the operation.