New Delhi: A digital wallet app that promised users attractive daily returns has allegedly drawn more than 15 lakh people into a multi-level marketing scam involving over Rs 1,200 crore, even as separate cyberfraud cases in Ahmedabad and Bengaluru have left a retired teacher and a schoolteacher with losses running into lakhs.
The Gujarat-based SD Pay, also known as Apna Pay, was launched in 2024 by Dhaval Patel, the prime accused in the case. The app promised bill payments and mobile recharges while offering daily returns of 0.15 to 0.30 per cent, along with incentives for referring new users.
The app was shut down in mid-2026, leaving investors unable to withdraw their money. Investigators found that 6,52,831 bank accounts had transferred Rs 1,211 crore through banking channels. By October 31, 876 victims had reported losses of Rs 37.42 crore to the Amreli Police. Eighteen FIRs have been registered and 12 people arrested, while the amount seized so far stands at Rs 1.86 crore.
In a separate case reported in October, a 77-year-old retired teacher from Ahmedabad’s Bodakdev allegedly lost Rs 21.5 lakh after fraudsters posing as Mumbai Crime Branch officials threatened to arrest him in a money-laundering investigation linked to terror financing.
The accused allegedly kept him under “digital arrest” for a week and showed him forged documents carrying the names and logos of the Mumbai Crime Branch, Supreme Court, Enforcement Directorate and Reserve Bank of India.
Earlier, in August, a 35-year-old schoolteacher in Bengaluru allegedly lost Rs 45 lakh in a fake investment scheme while attempting to recover money her family had previously lost to cyberfraud.
According to her complaint with the East CEN Police, her husband had earlier been cheated, leaving the family heavily indebted. They had even taken a gold loan before she began looking for investment options promising high returns. The latest fraud allegedly deepened the family’s financial distress.
The three cases highlight how cybercriminals use promises of quick profits, referral networks and threats of arrest to target victims across age groups.