The offense branch of Thane, a metropolis inward India, has busted an online multi-hundred crore cryptocurrency dissonance that operated for 2 years alongside the hope of practiced returns.
The prime number defendant Amit Lakhanpal floated a society The Flintstone Group, an alleged existent estate company, virtually a yr agone too launched his ain cryptocurrency called the 'Money Trade Coin (MTC).'
According to its promoters, Money Trade Coin (MTC) “provides a safer, to a greater extent than secure too superior choice of storing wealth inward the course of written report of digital currency, to investors equally good equally commoners.”
Lakhanpal attracted investors past times promising them higher returns, flats, too citizenship inward African too Caribbean Area countries where they said that their cryptocurrency would move legal inward a few years.
Around 25,000 people roughshod prey to the scam too invested merely about Rs 500 crore. But, when they didn't larn whatsoever penny inward return, they decided to contact the police.
“Pal too his associates promised investors a 20-times render on investment inward a mere 6 months. But in i lawsuit the deadline passed, the society made several excused to non unloose the money,” the officeholder said.
“A few days ago, some investors fifty-fifty went to Dubai to run across Lakhanpal, but they were allegedly threatened, too were told that they should non inquire for their money. We likewise institute that Lakhanpal had never constructed whatsoever building, fifty-fifty though he claimed to run a existent estate company.”
After receiving the complaint, the offense branch raided 2 locations at Thane too Vikroli. The law seized 53 laptops, safe stamps, faux identity cards belonging to the finance ministry, too fabricated credit too deposit certificates.
The offense branch has registered a illustration against the defendant nether several Indian Penal Code (IPC) sections for cheating, forgery, criminal conspiracy, criminal breach of trust too relevant provisions of the Maharashtra Protection of Interest of Depositors Act, the Chit Funds Act, too the Information Technology Act.
