Surat: CID crime Surat zone police busted a cryptocurrency racket and arrested Hardik Zadafiya, handler of web site for virtual currency, right here on Sunday. Four other accused involved in the racket are at the run. The accused lured folks to speculate Rs1.64 crore in cryptocurrency. Police suspect that the racket could be price several extra crores.
An offence of cheating was registered by way of CID crime sleuths on Friday towards accused Rakesh Mavani, Nikunj Savaliya, Kalpesh Lakhani, Ashok Khmabhati and Zadafiya. The accused were booked for cheating and legal breach of trust beneath various sections of Indian Penal Code.
They were additionally booked beneath The Gujarat Protection of Interest of Depositors (In Financial Establishments) Act 2003 and The Prize Chits and Money Circulation Schemes (Banning) Act.
Police investigation published that the accused launched Bitstrades cryptocurrency after registering their company in the United Kingdom in January 2017.
They opened their workplaces in Mota Varachha and Puna spaces of the city and offered high returns and commission to buyers. The accused additionally floated multiple websites and on-line buying and selling platform.
The accused took 190 buyers on tours to Bangkok and Singapore to earn their trust. “Majority of buyers who lost cash in the racket are but to return ahead. We hope that following the registration of the complaint, they're going to provide main points of cheating in regards to the accused to CID crime,” said a police officer of CID Crime.
An offence of cheating was registered by way of CID crime sleuths on Friday towards accused Rakesh Mavani, Nikunj Savaliya, Kalpesh Lakhani, Ashok Khmabhati and Zadafiya. The accused were booked for cheating and legal breach of trust beneath various sections of Indian Penal Code.
They were additionally booked beneath The Gujarat Protection of Interest of Depositors (In Financial Establishments) Act 2003 and The Prize Chits and Money Circulation Schemes (Banning) Act.
Police investigation published that the accused launched Bitstrades cryptocurrency after registering their company in the United Kingdom in January 2017.
They opened their workplaces in Mota Varachha and Puna spaces of the city and offered high returns and commission to buyers. The accused additionally floated multiple websites and on-line buying and selling platform.
The accused took 190 buyers on tours to Bangkok and Singapore to earn their trust. “Majority of buyers who lost cash in the racket are but to return ahead. We hope that following the registration of the complaint, they're going to provide main points of cheating in regards to the accused to CID crime,” said a police officer of CID Crime.
Cryptocurrency racket busted, one held
![Cryptocurrency racket busted, one held]()
Reviewed by Kailash
on
February 26, 2019
Rating:
