How Pune businessman falls victim to Bitcoin investment scam, loses $28K


How Pune businessman falls victim to Bitcoin investment scam, loses $28K

Pune businessman falls victim to Bitcoin scam – A businessman from Pune was defrauded online of over Rs 23 lakh ($24 K) by cybercriminals who promised him enormous returns in exchange for his investment in Bitcoin trading.

How the Bitcoin scam happened

On Friday, the victim—a 45-year-old Kharadi resident—went to the Chandan Nagar police station and filed a first information report (FIR). The investigating officer, Police Sub Inspector Rameshwar Revale, claimed that the complainant initially got a WhatsApp message from the suspect offering her part-time employment.

The accused then approached the complainant and offered him enormous rewards for participating in the Bitcoin transaction. The defendant then requested a message through an Instagram account. Initial investments made by the accused resulted in an assured profit, which encouraged the complainant to put money into the venture.



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According to the police, the complainant transferred a total of Rs 23,24,400 between April 9 and April 11 into seven separate bank accounts at the direction of the accused, hoping for a profitable investment. “But the accused requested Rs. 12 lakh extra in addition to the guaranteed profit money. The complainant became suspicious about this and went to the police,” he claimed.

The police, according to the officer, were successful in freezing the accounts where the complainant had transferred the funds. Revale added, “Further inquiry is underway. The fraudsters have been charged by the police with violating sections 409, 419, 420, and 34 of the Indian Penal Code. Soon, officials added, sections of the Information Technology Act would also be applied.

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