A 44-year-old garment shop owner from Nana Chiloda just lost over 2 crore rupees (about $240,000) to a crypto investment scam run by four guys from Nagpur. The fraud happened between August and December 2022, but he only filed a police complaint this month after the scammers kept making excuses about returning his money.

The whole thing started when his brother-in-law introduced him to what looked like a legitimate cryptocurrency investment company. The scammers posed as representatives and even invited him to visit their home in Nagpur to build trust. They showed him fancy brochures promising crazy high monthly returns plus rewards like foreign trips and luxury cars.

Between August and September 2022, the businessman transferred around 2.18 crore rupees to different bank accounts and courier agents in Nagpur and Surat. At first, everything seemed legit; they paid him about 13 lakh rupees as “returns.” Then suddenly the payments stopped in December.

When he asked what happened to his money, they kept making up excuses. First they said the company’s servers were down. Then they avoided him completely. His investment account and digital wallet eventually got deactivated, and that’s when he realized he’d been completely scammed.

After two years of trying to get his money back with no luck, he finally went to the police. Cops registered the case for criminal breach of trust and conspiracy.

Conclusion

An Ahmedabad businessman lost over Rs 2 crore to a fake cryptocurrency investment scheme after scammers promised high returns, foreign trips, and luxury cars before disappearing with the funds.

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