Pune Youth Duped Rs 80 Lakh in Crypto Scam; Two Arrested

Cyber Police Crack Down on Cryptocurrency Fraud in Pimpri-Chinchwad

In the latest case of financial fraud, a highly educated youth from Pimpri-Chinchwad was duped at Rs 80.27 lakh under the pretext of receiving a 10 percent monthly return through cryptocurrency investments. The Pimpri-Chinchwad Cyber Police have arrested two individuals, Avinash Singh and Ravi Thakur, in connection with the scam.

Scammers Target Educated Professionals with Promises of High Returns

According to officials, the accused targeted educated young professionals by organizing seminars that promoted lucrative returns through cryptocurrency investments. Using marketing strategies and a chain-based model, they convinced their victims to invest in a scheme linked to the so-called cryptocurrency company, Oris Coin.

Victim Realizes Fraud After Failing to Receive Profits

The complainant, lured by the promise of high returns, invested Rs 80 lakh but failed to receive any profits. Realizing he had been duped, the victim approached the Pimpri-Chinchwad Cyber Police and lodged a formal complaint.

Police Investigation Reveals Ponzi Scheme

Investigations revealed that the accused had used the money collected from victims to pay returns to a few initial investors, further legitimizing the scheme to attract more participants. The arrested individuals allegedly operated under the guise of Oris Coin Company, reports Punekar News.

Search for Additional Suspects Underway

The police have now launched a search for two additional suspects, Rahul Khurana and Tarun Trika, who are reported to be the owners of Oris Coin Company. Authorities have urged other victims of the scam to come forward and contact the cyber police immediately.

Have you ever encountered a suspicious investment opportunity? How did you handle it? Share your experiences!

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