KOHIMA, Oct 24: The Nagaland Police have raised concerns about an investment scam aimed at residents of the state. The scheme involves a company named RGA, which has been attracting investors with promises of high returns. Initially, the company provides some returns to create an illusion of credibility, then encourages existing investors to recruit new ones by offering commissions.
Police have identified this approach as indicative of a Ponzi scheme, where new investors’ funds are used to pay returns to earlier investors. To protect citizens, authorities are urging anyone who has lost money in this scam to report it immediately through the Citizen Financial Cyber Fraud Reporting and Management System by calling 1930 or visiting cybercrime.gov.in.
The police stress the importance of caution when considering investments, recommending that individuals verify opportunities with regulatory bodies and research the company’s background thoroughly. They also warn against offers of unusually high returns or pressure to invest quickly.
