Tuesday, April 23, 2024
ADVT 
India

Two prime suspects in Rs 18 crore crypto fraud case in Himachal arrested

Darpan News Desk IANS, 03 Oct, 2023 12:12 PM
  • Two prime suspects in Rs 18 crore crypto fraud case in Himachal arrested

Shimla, Oct 3 (IANS) Two prime accused in the crypto currency fraud of approximate Rs 18 crore have been arrested by the Special Investigating Team of Himachal Pradesh Police, officials investigating the scam said on Tuesday.

The SIT headed by Deputy Inspector General (DIG) Abhishek Dullar comprising 13 members was constituted on September 26 to investigate cases related to crypto currency.

The SIT has been directed to look into the bigger conspiracy. During the course of investigation of a case registered in the police station of Palampur in Kangra district, it has been found that Subhash Sharma, Sukhdev Thakur, Hemraj Thakur and others, all residents of the state, are the prime suspects.

The crime includes the promotion of a fake crypto currency called ‘Korvio Coin’ with promise of high returns and exaggerated claims to lure investors, a statement by the police said.

The suspects are accused of manipulating the crypto currency’s prices to their advantage, leading to losses for the investors.

They also switched to new crypto currencies like ‘DGT Coin’ and ‘BTPP Token’, changing terms and values to the detriment of investors.

Furthermore, the complainants claim the accused resorted to threats and intimidation when investors sought refunds or expressed dissatisfaction.

They are also alleged to have deleted online records and websites related to the crypto currencies to potentially erase evidence.

The legal allegations against the accused include cheating, fraud, criminal conspiracy and money laundering.

The impact of this scheme is substantial with complainants collectively reporting losses exceeding Rs 18 crore, said the statement.

With more people or investors coming forward, the losses suffered are likely to increase. The fraud scheme started in 2018-19 and continued for around three years.

It said 10 cases have been taken up by the SIT. Over 50 complaints are under enquiry. The amount involved is huge.

Director General of Police Sanjay Kundu said, “We are closing in on the kingpins of crypto currency scams in Himachal Pradesh. We are making all efforts to arrest the accused. We have mapped their assets and are conducting a financial investigation into their assets.”

He asked the victims to come forward to report their cases to the SIT constituted for the purpose.

Photo courtesy of Istock

MORE India ARTICLES

New Indian dossier reveals Goldy Brar's asylum bid in California, highlights Khalistani extremist network

New Indian dossier reveals Goldy Brar's asylum bid in California, highlights Khalistani extremist network
Indian Intelligence agencies have uncovered that the Canada-based terrorist, Goldy Brar, sought asylum in California through legal channels to evade Indian authorities. According to a new dossier, Brar arrived in Canada on August 15, 2017, and subsequently managed to escape to America.  

New Indian dossier reveals Goldy Brar's asylum bid in California, highlights Khalistani extremist network

Centre notifies appointment of 11 permanent judges in Punjab & Haryana HC

Centre notifies appointment of 11 permanent judges in Punjab & Haryana HC
The Centre on Wednesday issued notification on appointment of 11 permanent judges in the Punjab & Haryana High Court, acting on the recommendations made by the CJI D.Y. Chandrachud-led Supreme Court Collegium on September 14. The Supreme Court Collegium recommended their appointment after the Collegium of the Punjab & Haryana High Court had unanimously forwarded its recommendation for these names on May 20.

Centre notifies appointment of 11 permanent judges in Punjab & Haryana HC

Jaishankar wraps up New York leg of US visit, to travel to Washington between Sep 27-30

Jaishankar wraps up New York leg of US visit, to travel to Washington between Sep 27-30
After completing the New York leg of his US visit, External Affairs Minister S. Jaishankar will visit Washington D.C. from September 27 to September 30 for bilateral meetings. His programme includes discussions with his counterpart Antony Blinken, senior members of the US administration, US business leaders and think tanks.  

Jaishankar wraps up New York leg of US visit, to travel to Washington between Sep 27-30

Crocodile surfaces out of open drain in Hyderabad

Crocodile surfaces out of open drain in Hyderabad
A baby crocodile surfaced from an open drain in Hyderabad during rains that lashed the city on Wednesday evening. The reptile came out of the drain in Chintal Basti in Khairatabad, triggering panic among local residents in the area in the heart of the city.

Crocodile surfaces out of open drain in Hyderabad

CISF arrests man with gold at Mumbai Airport

CISF arrests man with gold at Mumbai Airport
CISF official on Monday said that they have arrested a private company staff member at Mumbai Airport and recovered 2.8 kgs gold from him. A senior customs official said that based on behaviour detection, CISF surveillance and intelligence staff of Mumbai Airport noticed suspicious activities of an OCS company staff. 

CISF arrests man with gold at Mumbai Airport

Punjab CM dares ex-finance minister to face truth on corruption charges

Punjab CM dares ex-finance minister to face truth on corruption charges
Taking a jibe at Punjab’s former finance minister Manpreet Badal, who was booked by the Vigilance Bureau along with four others on charges of irregularities in the purchase of a property, Chief Minister Bhagwant Singh Mann on Monday said those who used to boast about honesty are now running pillar to post for saving their skin. The Chief Minister said there is a huge difference between speaking the truth and standing on it. He dared him to face truth instead of seeking legal protection.  

Punjab CM dares ex-finance minister to face truth on corruption charges