Online fraudsters posing as Bitcoin traders cheat Pune senior citizen of Rs 24.85 lakh | Pune News
A 68-year-old resident of Pune was duped of Rs 24.85 lakh by fraudsters who posed as Bitcoin traders and lured the elderly person to invest in dubious funds. The victim lodged a First Information Report (FIR) at the Sahkarnagar police station Friday.
The police said the victim is a resident of a bungalow in the Sahkarnagar area. He got calls on his phone in September 2021 from the fraudsters who identified themselves as Evon Sarah and Babu Bordoloi.
They allegedly assured huge profits to the victim if he invested his money in a Bitcoin trading business. The police said between September 2021 and February 2022, the victim transferred Rs 24.85 lakh to Bordoloi through Paytm through multiple online transactions.
However, he never made any profit and also lost the money he had invested as per the instructions of the fraudsters. Unable to recover his money, the victim complained to the cyber police.
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After verification of the complaint, an FIR was lodged against the accused under Sections 419 (Punishment for cheating by personation), 420 (Cheating and dishonestly inducing delivery of property) and 34 (common intention) of the Indian Penal Code and sections of the Information Technology Act. Further investigation is on.
The cyber police have suggested that investors should use only trusted platforms to deal in cryptocurrencies and stressed that investors should research the names of the cryptocurrency exchanges and check if they use similar sounding names as those of known platforms.
“We are even advising people to research on types and modus operandi of frauds in cryptocurrency investments before they start putting their money. They should also stick to reputed crypto markets and exercise high caution while investing in newer platforms,” said an officer from the Cyber police station.