In a significant development, Delhi police have apprehended seven individuals in connection with a major cryptocurrency fraud case. The suspects, which include a contractual bank employee, have been accused of defrauding a man of ₹91 lakh (approximately $111,000) through a sophisticated scam involving promises of high returns on stock and cryptocurrency trading.
Sophisticated Scam Operation Unveiled
The accused, identified as Ajay, Mohit, Shankar, Partyaksh Koshar, Manish Jawla, Shrayance Pandit, and Dinesh, allegedly created fake bank accounts and sold them to other fraudsters. Deputy Commissioner of Police Hemant Tiwari revealed that the victim was lured into a messaging group offering stock trading tips. Trusting these tips, the victim transferred ₹91 lakh across 19 different accounts.
Victim’s Quick Action Leads to Breakthrough
Realizing he had been scammed, the victim promptly reported the incident to the police. Acting swiftly, investigators identified and froze a suspicious account containing ₹46 lakh. The fraudsters attempted to unfreeze this account by sending a fake email and impersonating an investigative officer, but their efforts were thwarted.
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Detailed Investigation and Arrests
Utilizing advanced technical analysis, the police tracked down the suspects, leading to their arrest. The authorities have so far recovered ₹5.5 lakh and are continuing their investigation to uncover more details and possibly recover the remaining amount.
Conclusion and Future Implications
This case highlights the growing prevalence of cryptocurrency fraud and the need for investors to exercise caution. The swift action by Delhi police not only led to the arrest of the perpetrators but also showcased the effectiveness of modern investigative techniques in combating financial crimes. As the investigation continues, it serves as a stark reminder of the risks associated with digital investments and the importance of regulatory oversight.