In a cryptocurrency fraud that came to light last week, as many as 101 complaints were filed with the Jalana police in the Indian province of Maharashtra. According to news on NDTV, about 10,000 investors have been cheated of nearly $36.6 million (Indian rupees 300 crores).
The fraud was detected when an investor approached the Jalana police with a complaint that one Kiran Kharat and his wife Dipti Kharat persuaded him to invest in a cryptocurrency named “GDC” but he made huge losses in the investment, making him doubt the professional integrity of the couple.
Sensing that there could be more such people who have been cheated by the Kharat couple, the police issued a public notice requesting people with similar grievances to come forward and file their complaints.
Bhagwan Funde, District Superintendent of Police (DSP), said as many as 101 complaints were filed in just one day. He estimates the number of people cheated in the scam could be 10,000 and the total money involve could be $85.4 million (Indian Rupees 700 crore).
The Jalana police said the case has been transferred to the Economics Offense Wing and efforts are on to freeze the bank account of the Kharat couple, who belong to a politically influential family.
The case took a political twist when the Kharat couple made a complaint to the police that Kiran Kharat was held hostage for four days by provincial-level former cricket Vijay Zol, who had invested nearly $1.2 million (Indian rupees 10 crores) in GDC and other coins. Zol is also a member of a politically-connected family.
