Social Media Investment Scams Exposed: ‘Invest & Get Rich’ Momos
Online Gaming Scam Uncovered: Man Arrested for Duping Youths Through Social Media
In a recent case, authorities have arrested a suspect accused of perpetrating a large-scale online gaming and betting fraud linked to the “Big Daddy” app.
The Accused
The accused, a former fast-food vendor, allegedly lured youths into investing in the app by promising quick riches.
Motive and Modus Operandi
According to investigators, the suspect operated a street food stall and used it as a front to promote the app to potential investors.
He claimed to have made substantial profits through the app and encouraged others to join, promising they too could earn lakhs quickly.
However, most investors ultimately lost their money, with the suspect earning hefty commissions from bringing in new users.
Social Media Promotion
The probe revealed that the suspect was active on social media platforms Instagram and Telegram, where he promoted the app using edited videos, fabricated winning screenshots, and false profit claims.
An initial group of victims were shown small profits to build trust, but the majority lost their entire investments.
Tangible Assets Acquired
Through this scheme, the suspect accumulated assets worth approximately ₹1 crore, including luxury vehicles, a motorcycle, and a house.
The authorities have confiscated these assets as part of the ongoing investigation.
Court Proceedings
During questioning, the suspect confessed to working as an agent for the company operating the “Big Daddy” app, recruiting users and encouraging investments in exchange for commission payments.
The authorities are now investigating other individuals linked to the network and determining the scope of the fraud.
Public Warning
This case highlights the growing concern over online gaming-based scams targeting young users through social media.
Law enforcement officials urge the public to exercise caution when investing in unverified online gaming or betting platforms, as these schemes can lead to significant financial losses.
“We urge everyone to be cautious and not fall prey to such scams,” said a spokesperson for the authorities. “Investigate thoroughly before investing in any online platform.”
Further Investigations
The authorities are working to identify how many victims were affected by the scheme and the total financial losses incurred.
This case may be part of a larger organized online gaming and fraud network, and further investigations are underway to uncover its extent.