India: Another day, another fraud

Six people defrauded a Pune engineer of Rs. 15 lakh by fraudulently promising him a virtual currency. As per the authorities, the individual was reportedly engaging in it in December 2017.

Dheeraj Jagdale (48), of the DSK Vishwa area of Dhayari, Pune, filed a formal complaint in the case. According to the authorities, at least one of the defendants is known to the complainant. Jagdale works as a mechanical engineer in the building industry.  

Bank, Coin Bank, Security System, Telephone

According to the police the six persons, including a lady, were given 3 lakh in capital to invest in Monesh Classic XMRO, a German virtual currency. The cryptocurrency, on the other hand, is said to be non-existent. At the same time, the people forced him to pay even more money via the Ethereum blockchain and the bitcoin wallet, promising him profits in six months.

The man, however, recognized that they had been deceiving him and made a complaint. The man has handed them a sum of Rs. 15 lakh.

Complaint concept. Woman wrote a complaint. Vector illustration flat design. Measures to solve problems. Claim petition. Sign the document on the application.

“This has happened in 2017. The entire investment was made in 2017 after the complainant went to an office that the accused had set up in Balajinagar, KK Market. The complaint had been pending with cyber crime cell. The office where the transaction happened has since then shut down and the man kept on trying to get the money from other associates of the man who sold him the idea,” according to police inspector (crime) Pramod Waghmare, who is investigating the case.

At Sinhgad road police precinct, a case was filed under sections 406 (criminal breach of trust), 419 (personation), 420 (cheating), and 34 (common intention) of the Indian Penal Code, as well as Sections 66(c) and 66(d) of the Information Technology Act.

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