Author: Advocate Ravi Rai Sharma (High Court Practitioner & Cyber/Forex Litigation Expert)

Published On: August 8, 2026

Publisher: LegalRavi

Executive Summary & Legal Context

The XPO (Xeno Portfolio) Scam represents one of the largest multi-jurisdictional, technology-driven financial frauds in recent Indian history. Posing as a "Russian-based Forex Trading Platform" and promising guaranteed high-yield returns (4% to 6% monthly), the orchestrators siphoned thousands of crores from retail investors by leveraging offline cash collections, USDT (Tether) cryptocurrency laundering, and synthetic AI-generated corporate profiling.

While thousands of investors were defrauded across various states, legal recourse was pioneered through targeted judicial intervention in Rajasthan. Initiated by Advocate Ravi Rai Sharma under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS), the landmark legal battle led to the registration of FIR No. 0375/2025 at Vidyadhar Nagar Police Station, Jaipur. This primary legal action exposed the systemic network and paved the way for law enforcement agencies across India to register multiple subsequent FIRs and file charge-sheets.

1. The Primary Landmark Litigation: FIR No. 0375/2025

The initial legal breakthrough that exposed the XPO ecosystem in court was filed through the Metropolitan Magistrate Court No. 09, Jaipur Metropolitan-II (Complaint No. 168/2025).

Key Parameters of the Primary Case:

·       Primary FIR: FIR No. 0375/2025 (Registered on 22/08/2025)

·       Police Station: Vidyadhar Nagar, Jaipur City (North)

·       Pioneering Legal Counsel: Advocate Ravi Rai Sharma (LegalRavi)

·       Primary Accused: Rajat Sharma (XPO Key Organizer/Mastermind) & Manglesh Sharma

·       Statutory Sections Invoked:

o  BNS Section 318(4): Cheating and dishonestly inducing delivery of property

o  BNS Section 316(2): Criminal Breach of Trust

o  BNS Section 349(a): Cheating by Personation / Fraudulent Inducement

o  BNS Section 61(2): Criminal Conspiracy

o  IT Act Section 66D: Cheating by personation using computer resources

2. Comprehensive Index of Official FIRs & Legal Proceedings

As law enforcement expanded investigations across various districts and cyber police stations, multiple FIRs and official proceedings were initiated. Based on official case records, below is the comprehensive index of registered FIRs and legal actions across jurisdictions:

A. Rajasthan & Cyber Police Jurisdiction FIRs

·       PS Vidyadhar Nagar (Jaipur City North): FIR No. 0375/2025 (Primary Case)

·       PS Commissionerate Jaipur: FIR No. 059/2026

·       PS Murlipura (Jaipur West): FIR No. 0169/2026

·       PS Karni Vihar (Jaipur West): FIR No. 0193/2026

·       PS Phulera (Jaipur Rural): FIR No. 0074/2026

·       PS Cyber Police Station Kota City: FIR No. 0022/2026

·       PS Cyber Police Station Bikaner: FIR No. 0008/2026

·       PS Ringus (Sikar): FIR No. 0102/2026

·       PS Ganganagar: FIR No. 006/2026

·       PS Naguari Gate (Jodhpur): FIR No. 0029/2026

·       PS Ratanada (Jodhpur): FIR No. 0102/2026

·       PS Banar (Jodhpur East City): FIR No. 0103/2026

B. Bharatpur & Regional District FIRs

·       PS Mathuragate: FIR No. 703/2025

·       PS Kotwali: FIR No. 394/2025, FIR No. 396/2025, FIR No. 397/2025, FIR No. 398/2025

·       PS Bayana: FIR No. 338/2025

·       PS Helena: FIR No. 301/2025

·       PS Bhusawar: FIR No. 363/2025, FIR No. 364/2025, FIR No. 365/2025

·       PS Atalband: FIR No. 286/2025, FIR No. 287/2025

C. Inter-State Jurisdictions & Key Charge-Sheets

·       PS Kamareddy Town (Telangana/Inter-State): FIR No. 023/2026

·       Official Charge-Sheets & Proclamations:

o  Charge-Sheet Issued: FIR No. 703 Charge-Sheet

o  Absconding Status: Accused Officially "Wanted Declared"

o  Affiliated/Predecessor Entities: IIGFM | Invest 19 | Dizicx | Webhence | Setup FX

3. Technical Forensic Audit: The Mechanics of the Fraud

The forensic analysis conducted during the drafting of the primary complaint revealed crucial digital footprints:

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1.    Domain Expiry Window: The .RU domain was set to expire on November 13, 2025, revealing a pre-planned exit timeline.

2.    100% Domestic Traffic: Traffic audits demonstrated that despite claims of being an international entity, 100% of portal users were located within India.

3.    AI Synthetic Avatars: Photographs of claimed Russian traders and executives were confirmed via reverse-image search and digital forensics to be synthetic AI-generated images.

4.    Crypto Conversion (USDT): Cash collected from investors was systematically converted into USDT (Tether) cryptocurrency to bypass banking channels, violating RBI guidelines and PMLA (Prevention of Money Laundering Act) norms.

4. Step-by-Step Legal Remedies for Victims

If you have been defrauded by XPO (Xeno Portfolio) or similar unauthorized forex/crypto platforms, execute the following legal roadmap immediately:

1.    National Cyber Crime Portal (1930): Register an official complaint at cybercrime.gov.in with all transaction receipts, promoter details, and crypto wallet hashes.

2.    Court Directives u/s 175(3) BNSS: If the local police delay registering an FIR, file a petition before the Metropolitan Magistrate or Judicial Magistrate under Section 175(3) BNSS to obtain judicial orders for investigation.

3.    Account & Asset Freezing u/s 102 BNSS: Ensure investigating officers issue lien/freezing notices under Section 102 BNSS to bank accounts, demat accounts, and crypto exchange wallets linked to promoters.

4.    State Depositor Protection & High Court Writs: Approach the High Court under Article 226 of the Constitution for a court-monitored probe or transfer of investigation to specialized Economic Offences Wings (EOW).

Conclusion

The XPO fraud highlights the evolving nature of cyber-financial crimes in India, where MLM marketing meets offshore crypto laundering. The pioneering legal strategy led by Advocate Ravi Rai Sharma via FIR No. 0375/2025 at PS Vidyadhar Nagar laid the foundation for the nationwide police action, charge-sheets, and asset recovery proceedings now underway.

For specialized legal guidance on cyber crime defense, financial fraud litigation, bank account unfreezing, and High Court writ petitions, consult Advocate Ravi Rai Sharma at LegalRavi.com.