Navi Mumbai Cyber Police Freeze Financial institution Accounts Value Rs 32.66 Crore in Cryptocurrency Fraud Probe

The Navi Mumbai cyber police conducting the probe right into a cryptocurrency fraud have frozen a number of financial institution accounts involving quantities value Rs 32.66 crore, an official mentioned on Wednesday. 

Senior police inspector Gajanan Kadam of the cyber police station in Navi Mumbai mentioned they obtained a dishonest grievance in August from a person who claimed to have invested greater than Rs 6.6 crore in cryptocurrency buying and selling. 

The person acknowledged within the grievance {that a} lady caller befriended him and later requested him to put money into cryptocurrency buying and selling whereas assuring good returns. 

Because the complainant began investing enormous quantities, he obtained a complete of Rs 75 lakh in returns on numerous events, however later stopped getting the identical, the official mentioned. 

An offence on this connection was registered with the cyber police below numerous sections of the Indian Penal Code and the Data Know-how Act. 

A police probe crew enquired with numerous banks the place the cash was paid by the complainant and as a primary step, bought accounts involving quantities value Rs 32,66,12,091 frozen over the previous few weeks, the official mentioned. 

Primarily based on a number of leads, the probe crew within the final week of September zeroed-in on two individuals from Ghatkopar in neighbouring Mumbai. 

The police later arrested the 2 individuals, recognized as Balu Sakharam Khandagale (42) and Rajendra Ramkhilavan Patel (52), the official mentioned. 

Throughout the probe, it was revealed that the arrested individuals had handed over cellular numbers, checking account particulars, cheque books and ATM playing cards of assorted individuals to others concerned within the crime. 

Efforts are on to nab the others concerned within the crime, the police added.