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Three retired military personnel from India have complained to the police of the city of Pune that they were deceived by cryptocurrency scammers, depriving them of crypto assets totaling 79.81 lakh rupees (about $96,000).
According to the complaint, the victims wanted to secure their pension savings, so they believed the tempting promises of high profits in a short period of time. A certain cryptocurrency platform assured investors that they could double their investment within 20 months and guaranteed depositors a profit of 10% of the deposited amount.
The organizers of the cryptocurrency scheme have been actively promoting their investment products through seminars held in the Indian cities of Lonavla and Wagholi earlier this year. Initially, the events were positioned as educational initiatives designed to inform potential investors about the benefits of cryptocurrencies. However, as it turned out, educational conferences were held to attract investors to the crypto scheme.
The director of the company, together with his partner, who is also a former serviceman, had previously been arrested on similar charges. They are now back in detention in Yeravada prison. Police are seeking court approval to further interrogate the detainees in order to gather more evidence in the cryptocurrency fraud case. Investigators are investigating whether there are other victims who may have been misled by the organizers of the crypto scheme.
According to the complaint, the victims wanted to secure their pension savings, so they believed the tempting promises of high profits in a short period of time. A certain cryptocurrency platform assured investors that they could double their investment within 20 months and guaranteed depositors a profit of 10% of the deposited amount.
The organizers of the cryptocurrency scheme have been actively promoting their investment products through seminars held in the Indian cities of Lonavla and Wagholi earlier this year. Initially, the events were positioned as educational initiatives designed to inform potential investors about the benefits of cryptocurrencies. However, as it turned out, educational conferences were held to attract investors to the crypto scheme.
The director of the company, together with his partner, who is also a former serviceman, had previously been arrested on similar charges. They are now back in detention in Yeravada prison. Police are seeking court approval to further interrogate the detainees in order to gather more evidence in the cryptocurrency fraud case. Investigators are investigating whether there are other victims who may have been misled by the organizers of the crypto scheme.
