Major Financial Fraud Uncovered in Nagpur: ‘Dollar Pay Club’ Network Marketing Scam
Key Accused and Victims
The main accused include Shubham Ambadas Patil from Manewada, Bahadura Nagar, his wife Neha, and associates Shital Ingle (Ramtek), Umar Farooq (Hudkeshwar), and Tushar Chavan (Yavatmal). Among the victims is a well-known local businessman who trusted the scheme and suffered significant financial losses.
Fraud Spanned Across Seven States
The fraudulent scheme spread across seven states—Goa, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Karnataka, Gujarat, and Maharashtra—where investors were trapped by promises of high returns. Victims were persuaded to deposit money with the expectation of exponential profits.
Claims of U.S.-Based ‘Crypto’ Operations
The accused purportedly managed international investments and operated a U.S.-based “crypto cluster,” assuring investors that their funds were being doubled abroad. However, authorities found no credible evidence supporting any such foreign investments.
Use of Fake Trust Wallet App and False Promises
To maintain a facade of transparency, the scammers used a fake ‘Trust Wallet’ mobile application, displaying fake dashboards with rising balances to mislead investors. Meanwhile, the actual funds were allegedly diverted for personal use.Police have launched a comprehensive investigation into this multi-crore fraud, with efforts ongoing to track the siphoned funds and bring all those involved to justice.
