Around Rs 200 Cr. Crypto Currency Scam: Fugitive on a ‘run’ from India
Shimla Oct 5,
A fugitive involved in the billion of crores crypto currency scam of Himachal Pradesh and other Northern West states of India has given a slip to Indian security agencies as is being confirmed as a runaway from the country.
According to senior officer of SIT the mastermind of the scam Subhash Sharma has runaway from the country before the SIT could close on him. According to SIT head Abhishek Dullar the main accused Subhash Sharma was expected to be in Dubai but SIT could not locate his hideout, so far and his exact location abroad is being tracked.
Speculatiins are, that the SIT may soon connect interpol or central agencies to issue a Red corner notice for his deportation to India.
This issue figured in the state assembly Monsoon session, as Independent Legislator raised the crypto currency scam.
According to Director General of Police Sanjay Kundu, a SIT was already probing the scam as FIR( No. 120/ 2023) has been registered on September dated 24, 2023 in Police Station Palampur, District Kangra.
Revealing the details of financial fraud DGP had said that prime accused Subhash Sharma, Sukhdev Thakur, Hemraj Thakur and others, who are residents of Himachal Pradesh are under probe. The crime includes the promotion of a fake crypto currency called “Korvio Coin,” with promise of high returns and exaggerated claims to lure investors.
The suspects are accused of manipulating the crypto currency prices to their advantage, leading to losses for the investors. They also switched to new crypto currencies, “DGT Coin” and “BTPP Token,” changing terms and values to the detriment of investors. Furthermore, the complainants claim that the accused resorted to threats and intimidation when investors sought refunds or expressed dissatisfaction. They are also alleged to have deleted online records and websites related to the crypto currencies to potentially erase evidence.
The legal allegations against the accused cover cheating, fraud, criminal conspiracy and money laundering charges. FIR has been registered under sections 420 & 120B of the IPC,V sec. 5 of Himachal Pradesh Protection of Interests of Depositors Act 1999, sec. 21 & 23 of Banning of Unregulated Deposit Schemes Act 2019. The offences are punishable for sentences upto 10 years of imprisonment. With more people or investors coming forward, the losses suffered are likely to increase.The fraud scheme started in year 2018-19 and continued for around 3 years. Ten such cases have been taken up by SIT. Over 50 complaints are under enquiry.
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