Key Takeaways
- • Delhi Police is investigating a group that allegedly defrauded roughly 500 crore rupees from investors by promising returns on an upcoming cryptocurrency, with reports citing promises of 200% returns, according to The Times of India.
- • The Delhi case is one of several crypto-linked investment frauds reported across India in the same period, with separate cases cited in Assam, Hyderabad, Himachal Pradesh and Goa.
- • The Enforcement Directorate arrested a key accused in a Rs 500 crore crypto scam after raiding premises linked to Vijay Kumar Juneja and Masoom Juneja, under the Prevention of Money Laundering Act, according to The New Indian Express.
Summary
Delhi Police is investigating a group of individuals who allegedly duped investors of around Rs 500 crore on the pretext of investing in an upcoming cryptocurrency, according to The Times of India. Reports indicate the scheme attracted participants with promises of returns of up to 200%. The fraudsters reportedly collected funds on the premise that the token would later rise in value, with the promoters claiming a target value of $2.5 for the coin.
The Enforcement Directorate has separately arrested a key accused in a Rs 500 crore crypto scam. The agency raided premises linked to Vijay Kumar Juneja and Masoom Juneja and arrested Masoom Juneja under the Prevention of Money Laundering Act. The case has been reported across multiple Indian states.
Other reported cases follow a similar pattern. In Assam's South Salmara Mankachar district, police reportedly busted a cyber fraud of Rs 10 to 20 crore disguised as an investment in an RSN crypto token. In Hyderabad, a 50-year-old doctor from Banjara Hills reportedly lost Rs 11.1 crore. Reports also describe a Rs 2,500 crore cryptocurrency scam in Himachal Pradesh that targeted people who had received land compensation, and a Mumbai firm booked for a Rs 4.57 crore fraud against Goa investors.
The original full-text articles could not be retrieved, so the figures above are drawn from headlines and snippets and should be treated as preliminary, with the amounts varying across reports.
The Enforcement Directorate has separately arrested a key accused in a Rs 500 crore crypto scam. The agency raided premises linked to Vijay Kumar Juneja and Masoom Juneja and arrested Masoom Juneja under the Prevention of Money Laundering Act. The case has been reported across multiple Indian states.
Other reported cases follow a similar pattern. In Assam's South Salmara Mankachar district, police reportedly busted a cyber fraud of Rs 10 to 20 crore disguised as an investment in an RSN crypto token. In Hyderabad, a 50-year-old doctor from Banjara Hills reportedly lost Rs 11.1 crore. Reports also describe a Rs 2,500 crore cryptocurrency scam in Himachal Pradesh that targeted people who had received land compensation, and a Mumbai firm booked for a Rs 4.57 crore fraud against Goa investors.
The original full-text articles could not be retrieved, so the figures above are drawn from headlines and snippets and should be treated as preliminary, with the amounts varying across reports.
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