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Family of 19 Booked for Duping Siblings of Over Rs 1 Crore in Cryptocurrency Scam
Allegations of Multi-Fold Returns Turn Sour
Authorities in Maharashtra have taken legal action against a group of 19 family members accused of defrauding two siblings out of more than Rs 1 crore in a cryptocurrency scam. The victims, residing in Thane district, fell prey to enticing promises of high returns on their investments.
Investments Turn Into Losses
The siblings, aged 42 and undisclosed, were enticed into investing Rs 91.53 lakh and Rs 25.69 lakh, respectively, in the hopes of significant profits starting in March 2022. However, their hopes were shattered as the accused failed to deliver on their promises, leading to a loss of Rs 1.17 crore for the victims.
Legal Action Initiated
Following the discovery of the fraud, the elder sibling filed a complaint at Rabodi police station, prompting legal action against the accused family members. The suspects, including Sabir Yakub Ghachi, Shakir Yakub Ghachi, and Ruhiha Shakir Ghachi, allegedly used intimidation tactics and false promises to carry out the scam.
The victims, facing threats and deceitful responses from the accused, were compelled to seek assistance from law enforcement. A case has been registered under relevant sections of the Bharatiya Nyay Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors Act, 1999.
Understanding Cryptocurrency Scams
Cryptocurrency is a form of digital currency secured by encryption and operates on decentralized networks utilizing blockchain technology. Bitcoin, established in 2009, remains one of the most recognized cryptocurrencies worldwide.