Kanpur: A herbal tea entrepreneur from Uttar Pradesh has allegedly lost Rs 43.73 lakh after falling prey to an online cryptocurrency investment racket operated by fraudsters who approached him through social media and promised lucrative returns.
The victim, Shivraj Nishad, who lives in Shekhpur village in Maharajpur, told police that he was contacted by a woman identifying herself as Sandhya Arora on Facebook on July 14. Nearly two weeks later, on July 27, she reportedly introduced him to a WhatsApp group promoting cryptocurrency trading opportunities.
According to his complaint, Nishad was encouraged to begin investing with a small amount. His first transaction of Rs 10,000 reportedly generated a displayed profit of Rs 2,668. Convinced by the apparent returns, he subsequently deposited another Rs 30,000.
The fraudsters allegedly introduced different trading plans and imposed a condition requiring him to pay a 30% commission on the profits earned. He was later enrolled in a seven-day investment cycle, with withdrawals restricted until the scheme ended and the stipulated commission was paid.
Believing the platform to be genuine, Nishad transferred a total of Rs 43.73 lakh through 33 bank accounts allegedly provided by the fraudsters.
However, when he attempted to withdraw his accumulated investment, the operators reportedly demanded an additional Rs 27.79 lakh, claiming it was required towards income tax.
Suspecting foul play, Nishad approached the National Cyber Crime Reporting Portal and registered a complaint.
Cyber police station in-charge Abhay Pratap Singh confirmed that a case had been registered. Further investigation into the alleged fraud is underway.
