In a recent report, a builder from Surat, India has been allegedly lured to invest in the crypto scheme and looted money of worth ₹14 crore. The accused involved a cop and his five other accomplices who impersonated as cryptocurrency investing firm.

This news came into light when the Senior Police official revealed about the complaint lodged by victim Chetan Gangani. The accused people were operating under a firm named as NCR Coin LLP.

In a complaint lodged by Gangani, he claims that the company had a website called along with other domain categories of .org, .biz detailing about different crypto schemes. This might be a probable reason as to why he was fooled by the authenticity of the firm.

Furthermore, he elaborated that along with his family members he made a total investment of ₹14 crore in the fake crypto scheme offered by the firm. After a few days when he tried to inquire about Return on Investment(ROI) as per the scheme, he was directed to connect with people from different cities. Eventually, when he figured out the fraud game, he was threatened to be kidnapped and not to reveal police.

The official from Crime branch is been looking into the matter now and accused people have been booked under cheating by impersonation and criminal breach of trust under the IPC and relevant sections of the Information Technology Act have also been invoked.

As per statement of ACP Sarvaiya,

“We are yet to ascertain the role of the accused named in the FIR. As far as the police inspector is concerned, it is learnt that some cryptocurrency was transferred into his account. Investigations currently underway will give a clear picture”

Incidents like these are the example to other people in the country to stay vigilant and validate the authenticity of the company before making any form of investments.

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