The accused took the investors to Goa and conducted meeting, events in lavish hotels. They made investors understand complex terms of crypto like blockchain technology and other to get out huge amounts. They have allegedly fled the country.
What does the FIR states for this fraud?
The FIR states that the suspects had said that they were about to build a new office in Dubai. However, when some of the investors went to Dubai to cross-check they were shown some random under construction buildings. They also claimed to be having a cooperative bank in Maharashtra, which turned out to be a lie.
Also read: Robocallers Are Now Behind Your Cryptocurrency
One of the victim wrote in his complaint that despite knowing the fact that the investors are putting their hard earned money, the accused played with their emotions. Some of them had put their saving whereas others had took loans.
One of the victims alleged that they were told that the crypto had already been launched in several other countries. The crypto was said to be equivalent to 2.50 USD, at present and the rate was going to boom in the future.
The defendant promised us up to 200% profits in a year and a guaranteed return of between 5% and 20% per month in addition to other rewards and bonuses. To check the status of their money, convert it to Bitcoins, or withdraw it online, the accused had access to two websites. However, the website always displayed an error when they attempted to do so.
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