in the Maharashtra region of India, the Indian police have apprehended suspects who are associated with a crypto investment fraud.
Indian police have apprehended suspected cryptocurrency investment fraudsters in the Maharashtra region of India, according to local reports. The criminals, according to authorities, proposed a variety of fraudulent crypto trading and investment opportunities to their unsuspecting victims. In the Amboli region, the police reported the apprehension of approximately three suspects who were closely associated with the gang.
The court has ordered the remand of the detained suspects in police custody while investigations are ongoing.
Among the individuals apprehended were Mohammad Subhani Mohammed Umar Khan from Uttar Pradesh, Gufran Khan from Madhya Pradesh, and Sahil Mustafa Quereshi from Gujarat. The police were able to apprehend the suspects who were dispersed across various locations with the assistance they received, according to reports.
The fraudsters’ activities were initially noticed by the police after a 19-year-old student from Chembur lodged a complaint, according to reports. The student informed the authorities in the Mumbai region that he had been defrauded. The pupil stated that the issue arose in November 2024, following his recent interest in cryptocurrency trading. He contacted an acquaintance to inquire about the activities of crypto trading, as he was a neophyte in the field.
The acquaintance provided him with a phone number to contact for information, as he was not particularly knowledgeable about the industry. The student contacted the individual after receiving the number and was informed that he would be required to pay Rs. 87 for a unit of cryptocurrency. Additionally, the individual he contacted guaranteed him a discount if he were to acquire digital assets valued at Rs. 2 lakhs. He consented to pay the sum, as it was attractive.
Subsequently, the student consented to meet with the fraudster at a designated location to conduct the transaction. The pupil stated that he visited the location and paid the money after being assured that he would receive the corresponding digital assets. The accused disappeared and did not return after the assurance of transmitting the digital asset. The student went to the police station to report the crime after he discovered that he had been duped.
Subsequent to the complaint’s registration, the police initiated an investigation that ultimately destroyed the criminal organization. The suspects were apprehended and remanded to the police station. CCTV footage from the crime scene and other technical tools, such as software that allows for mobile phone tracking, were instrumental in the police’s investigation, according to the authorities.
Police have apprehended Mohammed Subhani Mohammed Umar Khan, Sahil Mustafa Quereshi, and Gufran Khan at various locations.
The suspects confessed to the crimes after their interrogation, and the police noted that they knowingly misled crypto investors through their illegal operations. Sahil Mustafa Quereshi, the second suspect, resides in Ahmedabad, Gujarat, while Mohammed Subhani Mohammed Umar Khan is located in the Ambedkar Nagar region of Ashrafpur Kichhauchha. Gufran Khan, the final suspect, resides in Madhya Pradesh.
The police continued their inquiries into the criminal backgrounds of the suspects following the court sentence, as they suspected that they may be involved in additional crimes of a similar nature. The police are also investigating whether there are any additional members of the gang who are still at large.
Scammers have been actively attempting to entice new investors into the crypto market by exploiting their lack of knowledge, according to the authorities.
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