9 Oct, 2019

Jaipur Couple Busted in Cryptocurrency-Related Fraud

On Thursday, the Jaipur police busted an inter-state cryptocurrency racket run by a couple who had duped almost 6,000 people across India under the false pretenses of a cryptocurrency scheme.

The couple- Pawan Thakur and his wife Mridula Thakur- were arrested when a complainant gave an application to the deputy commissioner of police (DCP West) Ashok Gupta stating that she was duped out of Rs 90 lakh.

According to a report in TOI, the DCP, then directed Jhotwara police to take action against the alleged fraudsters. The police said that the couple resided in Uttar Pradesh and invited people to invest in their nefarious schemes. Police claimed that the duo promised the investors that their money would be doubled. An official told the news daily, “They tricked over 6,000 to invent into their scheme and duped them of several crore.”

The couple also used to market the schemes on the website and offered multi-level marketing schemes. The official added, “The couple managed to lure people by offering gifts such as expansive watches, we have investigated the matter at and more names may come to the fore.”

During interrogation, the couple informed the cops, that atleast 6,000 people had invested in their scheme. Another official said, “We are taking help of the cyber experts to ascertain if indeed they had brought crypto currencies such as bitcoins.”

Police in Rajasthan said that due to lack of regulations, many companies are duping new investors and the police are unable to crack down on these firms. The officer said, “There are rules related to the crypto currency. But many people are not aware of it and fell victim to people offering lucrative deals.”