- Sukhdev and Hemraj, two of the key suspects, were arrested in Gujarat before.
- SIT investigating the crypto fraud executed searches at 41 different sites.
On Sunday, the Special Investigation Team (SIT) investigating the alleged multi-crore crypto fraud executed searches at 41 different sites in Himachal Pradesh, India and detained one of the major suspects, Abhishek Sharma.
Abhishek, a native of the Una district in Himachal Pradesh, is believed to have been one of the four key suspects in the scam that began in 2018, when the suspected fraudsters contacted individuals with an investment plan using a crypto created in the Mandi district and dubbed “Korvio Coin” or “KRO coin.”
Investigation Underway
Sukhdev and Hemraj, two of the key suspects, were arrested in Gujarat before, and throughout the course of the inquiry, they admitted to having liabilities totaling INR 400 crore (approx. $4,80,54,560). Subash, the accused scam’s ringleader, is still at large and maybe hiding up in Dubai.
According to a police statement, Abhishek was taken into custody by the SIT and then presented to a judge, who remanded him to five days in police detention. According to the statement, these investigations have uncovered damning materials such as papers, land titles, cell phones, and other electronic devices.
DGP Sanjay Kundu told local media that 10 persons have been detained in connection with the case and that the evidence gathered during these searches would play a significant part in our continuing investigation.
Swindlers have amassed a network of investors by convincing victims that their money would be returned to them quickly and in large amounts. Three or four different cryptocurrencies were utilized, and their values were artificially inflated on phoney websites, according to the authorities.
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Source: https://thenewscrypto.com/key-suspect-in-crypto-scam-in-india-arrested/