Rajkot: Branch of Rajkot Crime On Saturday arrested two people from a letter for allegedly deceiving 17 people of Rs 38 Lakh with a floating ponzi scheme involving Cryptocurrency.
Police said that the ponzi scheme was based in Dubai.
Accused of Brijesh Gadiyali and Kiran Panchasara, both of them were residents of the letter.
While the other two were accused of Dhaval Laheri and Hitesh Gupta was still great.
According to the police, the four defendants have drifted the scheme in September 2020 and lured people to invest in Cryptocurrency.
They also created a ‘cybertron.live’ portal and made people sign a smart contract.
The defendant told people to invest in Tron, Cryptocurrency, paying them back 2% per day in their digital wallet.
On the one hand, invest three times in 150 days.
They ask investors to find other people like they multiply their investments instantly and get an additional 10% commission.
17 Scheme victims have invested RS 52.20 lakh during that period and they returned Rs 13.90 lakh through various Viz bank transfer channels, cash and through Angadiya.
Police Inspector Crime Crime Rajkot VK Gadhvi said, “Earlier this year, the defendant held a major show in Udaipur, Rajasthan, and launched their own Cryptocurrency Megatron and promised investors that the market value of Tron and Megatron would remain the same.
They changed all the Cryptocurrency Tron to become Megatron and the next day, the Megatron value fell to Rs 00.001.
“At least Rs 38 Lakh Investors were removed overnight.
Police Commissioner Rajkot Manoj Agarwal said, “While we have arrested two, their mastermind is believed to be abroad.
Fraud network starts from a letter and spreads to Rajkot.”