A 45-year-old businessman from Rajkot has become the latest victim of a cryptocurrency investment scam, losing a staggering sum of Rs 13.71 lakh. The incident, which highlights the risks associated with unregulated digital asset schemes, has led to a formal police complaint at the Pradyuman Nagar police station.
Details of the Cryptocurrency Fraud
The complainant, identified as Mohan Chandpa, has named three individuals in his complaint: Harshdeep Khachar, Jayveer, and Uka. According to the First Information Report (FIR), Chandpa was introduced to the prime accused, Harshdeep Khachar, approximately a month ago. Khachar allegedly presented an enticing investment opportunity, promising returns ranging from 3% to 30% on investments made in the cryptocurrency USDT (Tether).
Trusting the offer, Chandpa proceeded to transfer a total of Rs 13,71,000 on December 2. The money was sent via an angadia (traditional courier-based money transfer system) to a person named Hardik for the specific purpose of purchasing 15,000 USDT. Chandpa was assured that either the promised profits or the USDT tokens would be credited to his account by the evening of the same day.
Threats and Intimidation Follow Broken Promises
When neither the cryptocurrency nor the returns materialized, Chandpa contacted the accused to seek an explanation. He was subsequently called to a hotel located on the 150 Feet Ring Road in Rajkot. The meeting, however, took a hostile turn. The accused not only refused to return his money but also subjected him to severe harassment.
The complaint details a harrowing experience where Chandpa was abused, threatened with death, and insulted on the basis of his caste. The situation escalated further when he allegedly started receiving threatening phone calls from another accused, Jayveer, intensifying the intimidation campaign.
Legal Action Under New Laws
Following the formal complaint, the Rajkot police have taken swift action. A case has been registered under multiple sections of the newly enacted Bharatiya Nyaya Sanhita (BNS), specifically sections 318(4), 351(2), and 352, which pertain to cheating, assault, and criminal intimidation. Additionally, given the nature of the abuse, relevant provisions of the SC/ST (Prevention of Atrocities) Act have also been invoked against the accused.
This case serves as a critical reminder for investors to exercise extreme caution when approached with offers of unusually high returns in the volatile cryptocurrency market. It underscores the importance of dealing only with registered and reputable platforms and verifying the credentials of any individual or entity offering investment advice.
