Indian authorities prepare to charge 3 defendants in alleged $240 million cryptocurrency scam
A special investigation team established to investigate a cryptocurrency fraud case in India worth $240 million will file charges against three main defendants this week. The police initially charged the three defendants, Hem Raj, Sukhdev, and Abhishek, under IPC Section 420 and 120 B (criminal conspiracy), as well as Prohibition Orders 21 and 23.
The fraud case, which was first exposed in October, was estimated to be worth about $24 million, but the investigation found that the fraud amount exceeded $240 million, with over 100,000 victims cheated in a multi-level false cryptocurrency scheme, which also involved more than 1,000 police officers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
WisdomTree has filed for a Delaware trust to launch an XRP ETF
Avalanche launches Avalanche9000 testnet to reducing costs and enable permissionless L1s
Visionary or 'financial comedy'? Market participants weigh MicroStrategy's stock premium amid bitcoin buying spree
MicroStrategy, with a market cap of around $85 billion, currently holds 331,200 bitcoin worth about $30 billion.The stock’s 440% year-to-date surge has baffled some financial pundits, while others have cheered its corporate strategy.
Congress’s top priorities this lame duck session
Here’s a look at what lawmakers are most focused on in these final weeks of the 118th Congress
Trending news
MoreCrypto prices
More
