Fraudsters Dupe SEBI Using Fake Land Documents

Jaipur In a shocking revelation that exposes the boldness of white-collar crime, fraudsters in Jaipur have managed to target none other than India’s capital market regulator, the Securities and Exchange Board of India (SEBI). The Bajaj Nagar police have unearthed a case where scammers used forged documents downloaded from SEBI’s official website to illegally sell government-seized land worth nearly ₹98.77 lakh. This fraudulent act not only highlights the audacity of the criminals but also raises serious concerns about public data misuse and real estate fraud.

The land in question was confiscated by the Government of India in connection with the infamous PACL and PGFL investment scams. These properties were under SEBI’s control and not legally available for sale. However, the accused criminals, exploiting publicly accessible documents and tampering with official details, managed to create fake ownership papers. They forged the documents to make it look like the property was not under any legal restriction and eventually succeeded in selling the land to unsuspecting buyers.

The police investigation led to the arrest of two individuals from the Bagrū area, who are believed to be part of a larger gang involved in fraudulent property deals. According to law enforcement officials, the arrested suspects had an intricate understanding of legal loopholes and document formatting. They used these skills to fabricate convincing papers, including land ownership certificates, sale deeds, and approval letters that mimicked official SEBI documents.

A senior police officer handling the case stated, “This is one of the most daring frauds we’ve come across in recent times. The documents used were so realistic that even seasoned officers had to verify them multiple times. It is clear these people had access to public records and misused that access to their advantage.”

The fraud came to light when a vigilant buyer attempted to double-check property registration details and stumbled upon inconsistencies. Further investigation revealed that the land was, in fact, under SEBI’s possession and had never been authorized for resale. This prompted a complaint to the police, who then initiated an inquiry that uncovered the scam.

Officials have now warned potential investors to remain cautious while dealing in real estate and to ensure that all documents are verified through official government channels, rather than relying on scanned copies or unofficial websites. This incident has sparked discussions about the need for stricter digital security protocols, especially concerning publicly available legal documents. SEBI and local land authorities are also expected to tighten oversight and initiate digital watermarking systems to avoid similar cases in the future.

With the arrest of the two main culprits, the police are continuing their investigation to trace the rest of the network. Authorities suspect this scam may be just the tip of the iceberg in a wider real estate fraud ring operating in Rajasthan and potentially other states.