Rajkot police arrest three men in a ₹3.50 Crore Crypto Scam, as per local news. One of the three men involved in the crypto scam went to the police commissioner’s office yesterday and said that the police were trying to make him an accused even though he was the applicant himself.
In August 2012, Rahul Mehta and Umesh Sagar started a new company for investment in cryptocurrency at Star Plaza in Rajkot, as per the details. A young man, Vishal Gandhi, was hired to persuade the investor to invest in the company.
Over 150 investors are trapped in greedy scams promising higher returns by investing in cryptocurrencies and accused of fraud totaling ₹3.50 crore. Vishal Gandhi collected money from the investors and deposited it with Rahul and Umesh. However, Vishal Gandhi applied for cybercrime because they did not pay on the due date.
On the other hand, Hema Joshi had invested ₹20 lacs in cryptocurrencies through Rahul and Vishal and has not received any return. When ACP Rabri seized laptops and mobile devices, it became clear that Rahul, Umesh, and Vishal were partners. Additionally, there has been a scam involving the non-payment of compensation and the amount invested.
Vishal, along with his family, visited the Police Commissioner’s office on August 27 so he could escape from the scam. He defended that he had no involvement in the entire scam; he only marketed the company, collected a large amount from investors, and deposited it in the company. He added that the police had taken both his laptop and his phone.
ACP Cyber Crime Vishal Kumar Rabari said that the accused, a young man, had been playing tricks on other partners and was not willing to return the money to the investors. This incident is still under investigation, and directions have been given to register a case soon.