Cryptocurrency fraud: 7 more held in ₹40 cr crypto investment scam in Nagpur

  • They were held just a day after the main accused, his wife and two associates were held from Lonavala in Pune

Livemint
First Published20 Feb 2022
Cryptocurrency fraud: Over 2,000 investors were duped in the cryptocurrency fraud.
Cryptocurrency fraud: Over 2,000 investors were duped in the cryptocurrency fraud.(REUTERS)

Crypto fraud: Seven more persons were arrested on Sunday in a 40 crore cryptocurrency fraud in Maharashtra's Nagpur. They were held just a day after the main accused, his wife and two associates were held from Lonavala in Pune. 

 Over 2,000 investors were duped in the cryptocurrency fraud. 

According to PTI, an official said main accused Nishid Wasnik used to flaunt his luxurious lifestyle to get people to invest in a firm that he claimed was dealing in 'ether' cryptocurrency. 

Wasnik manipulated the website of the firm to show a steady rise in the value of investments, while transferring money into his accounts fraudulently between 2017 and 2021, the official said. 

Wasnik had even organised a seminar on cryptocurrency investment in Panchmarhi in Madhya Pradesh. He went into hiding in March last year, leaving the investors in the lurch, before being arrested from Pune on Saturday. 

All arrested have been charged under IPC, Maharashtra Protection of Interest of Depositors Act and Information Technology Act provisions. 

 

 

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