Ponzi scheme: Man dupes 1,200 of Rs 52cr

Hyderabad: Central Crime Station police arrested the accused who duped 1,200 victims from across the country including 250 from Telangana for Rs 52 crore through ponzi bitcoin investment scheme on Thursday. Based on the complaint from a victim, B Rama Krishna and others in 2018, a case has been registered against the accused S Nagaraju and others. The accused created four websites for bitcoin business and appointed people as regional heads and agents in different states of the country. Promising handsome returns on their investment, the agents induced victims to deposit huge amounts in the binary bitcoin scheme for 18 weeks. TNN

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