Ahmedabad: A 45-year-old land broker from Ahmedabad allegedly lost ₹90 lakh in a cryptocurrency investment fraud after a woman he met on Facebook persuaded him to invest through a purported trading platform, according to a complaint filed with the Cyber Crime Cell.
The victim, identified as Henish (name changed), resides in the Tragad area of Ahmedabad. The accused allegedly gained his trust through online conversations before introducing him to a cryptocurrency investment opportunity that promised substantial returns.
Fake Profits Used to Build Trust
According to the complaint, Henish became friends with a woman identified as Madhuri Mehta on Facebook a few months ago. After exchanging WhatsApp numbers, she allegedly claimed to earn significant profits through cryptocurrency trading and introduced him to an associate named Charlie.
Charlie subsequently shared a link to a company website, which reportedly displayed profits of ₹1 crore within five days of trial trading. Believing the earnings were genuine, Henish attempted to withdraw the money.
However, the accused allegedly demanded payments towards income tax and cryptocurrency wallet exchange fees before releasing the funds. Trusting their assurances that the charges would be refunded along with his earnings, Henish paid approximately ₹70 lakh.
The alleged fraudsters later claimed that his wallet had been suspended over suspected money laundering and illegal financial transactions. They reportedly demanded another ₹20 lakh to reactivate the account and recover his funds.
Madhuri allegedly invoked their friendship to persuade him to make the additional payment. However, the wallet remained inaccessible even after the money was deposited. His suspicions grew further when she reportedly told him that Charlie had left his job.
SEBI Enquiry Leads to Police Complaint
Seeking clarity, Henish approached the Securities and Exchange Board of India (SEBI) to verify the cryptocurrency company. He subsequently realised that he had allegedly fallen victim to a cyber fraud and approached the Cyber Crime Cell.
The Cyber Crime Cell has registered a complaint and initiated an investigation. Officials are using technical analysis to trace those allegedly involved in the scheme.
