Nagaland Police warn public about investment scam targeting state residents

The Nagaland Police have issued an advisory to alert citizens about an investment scam linked to a company known as RGA. The advisory warns that numerous residents have been lured into this fraudulent scheme with enticing promises of substantial financial returns.

According to police reports, the scam operates by initially providing returns to early investors, which fosters a false sense of security and credibility. This tactic not only attracts more victims but also creates a cycle where investors are encouraged to recruit new members. Authorities have raised alarms over the company’s operations, likening it to a Ponzi scheme, where funds from new investors are used to pay returns to earlier ones, rather than from legitimate business activities.

The advisory highlights that individuals who have fallen victim to this scam should take immediate action. The Nagaland Police strongly recommend that anyone who has experienced financial loss as a result of the RGA scheme reach out to the Citizen Financial Cyber Fraud Reporting and Management System. Victims can contact the system directly by calling 1930 or report their grievances online at cybercrime.gov.in.

The police urge the public to remain vigilant and exercise caution when approached with investment opportunities that seem too good to be true.

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