2 persons lose Rs 16.4 lakh in cryptocurrency fraud; 10 booked

The Thane police have registered a case against 10 persons for allegedly cheating a 71-year-old man and his friend of Rs 16.48 lakh by promising them good returns on investment in cryptocurrency, an official said on Thursday.

The accused posed as representatives of a company that dealt in cryptocurrency and had offices in Mumbra and Dombivli areas of Maharashtra’s Thane district.

In March last year, the accused lured the elderly man and his friend, both residents of Chembur in neighbouring Mumbai, to invest in cryptocurrency and took from them Rs 16,48,405 from time-to-time, the official from Mumbra police station said.

Later, the victims failed to get any returns and the original invested amount following which they complained to police.

A case was registered on Wednesday against 10 persons, who are residents of Diva and Dombivli in Thane and also Uttar Pradesh, under relevant legal provisions for cheating and criminal breach of trust, the official said.