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Multiple victims defrauded of ₹400 crore via online betting app scam in Rajasthan

Mar 6, 2025Delhi, India1 source

Summary

A ₹400 crore cyber fraud was uncovered in Rajasthan, involving victims lured through online betting apps to provide bank details. The scam was orchestrated by Shashikant, a software engineer, who created fake companies using stolen documents. A husband-wife duo, Dinesh Singh (49) and Kumkum (38), were named as company owners despite living in poverty in a one-room home in Delhi. They were arrested on May 8, 2025, along with Ravindra Singh (54), who admitted their nephew handled the technical operations. Over 4,000 complaints were linked to Fino Payment Bank accounts, with more than 10,000 people potentially defrauded. The mastermind, Shashikant, remains at large.

Incident Details

Domain
Fraud & Financial
Harm Types
AI-Powered Financial Fraud
Mechanism
conduct
Platforms
Fino Payment Bankonline betting apps
Companies
Ruknek Enterprises
Recipient
GroupDaily wage laborers and other unsuspecting users lured via betting apps into providing bank details for fraudulent use
Dimensions
economicautonomydiscriminatory

Sources

1
'Daily wage laborers' face ₹400 cr scam: Victims lured via betting apps; mastermind engineer Shashikant cre... - Bhaskar English
Google News Historical Backfill·May 15, 2025

This incident is documented by a single source. Source count reflects coverage in our monitored feeds, not the totality of reporting, and we do not evaluate publication quality.