Maharashtra: Woman loses over Rs 50 Lakh in crypto fraud

Kolhapur: Six persons were booked for allegedly duping a woman of Rs 58 lakh under the pretext of lucrative return on cryptocurrency investment, informed the Shahupuri Police here on Wednesday.

The main accused was identified as Kedar Rande who runs 'Gain' Bitcoin Company.

Quoting the complainant, the police stated that Kedar contacted the victim in the year 2016 and wooed her to invest in Bitcoin, with the promise of 180 per cent ROI.

The woman—an owner of a computer training center—fell into the trap and gave Rs 58 lakh as investment. For sometime, she was paid the promised return but gradually it stopped.

When the victim queried with Kedar, he told the police he is not accountable for the issue and asked the woman to contact his seniors.

Finally, the aggrieved learnt that she has been cheated and filed the present complaint against Kedar, one from Pune and four others from Delhi.

No arrest has been made yet as further probe into the case was underway, police added. (UNI)