₹ 40 Crore Crypto Fraud With 2,000 People, 4 Arrested In Nagpur

₹ 40 Crore Crypto Fraud With 2,000 People, 4 Arrested In Nagpur

Four people have been arrested from Pune for allegedly duping investors to the tune of ₹ 40 crores in a cryptocurrency fraud, Nagpur police said on Saturday.

Nishid Wasnik, his woman Pragati, Gajanan Mungune, and Sandesh Lanjewar were arrested after being on the run for over a time, an official said.

We have seized a pistol, seven live cartridges, four luxury cars worth ₹ one crore, ₹ 18,91,210 cash, eight cellphones and a laptop. They were held from Pangoli near Lonavala in Pune.

Nishid, Sandesh, and Gajanan are also accused of gunning down a person in Washim after abducting him from Nagpur last year,” he said.

“The accused, who operated through Sakkardhara based office had tricked investors in believing that they are investing in Ethereum, one form of cryptocurrency.

They had also lured investors promising hefty returns.

The accused reportedly used a forged site to show growth of Ethereum to the investors,” the Top Cop said and mentioned “The accused had around 1,500-2,000 Ethereum stock each worth ₹1.25 lakh right now,”

Notably, owing to the initial hike no one wanted to withdraw their investments.

However, when some investors tried to withdraw their money, they faced technical glitches.

In search of a solution, they approached Sakkardhara based office of Ether Trade Asia where the employees only provided them assurance. Sensing something amiss then the investors approached cops.

Following the detailed probe, cops managed to nab the accused from Lonavla based bungalow on Thursday.

Cops have also recovered four luxury cars worth ₹ 1 crore and other materials from their possession.


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