Dehradun Mining MLM Scam
Surprisingly an Incident took place by the Indian Police. Multi-Crore Crypto Scamming. Though this is not going to be the First Digital Crypto Coins Fraud/Scam in Indian History.
Also read guest post, Kodak officially launching KodakCoin.
Indian Police Dehradun Mining MLM Scam
The Indian Imperial Police of Delhi Jumped in Dehradun on 9th May’2018 to raid 44,000 sqft Complex which was used for an open –source Ethereum Mining. Before the raid, the mentioned place was used to collect and gather Ethereum coins there and resulted as Dehradun Mining MLM Scam.
Law enforcement agency at Delhi gathered 100 Ethereum Coins and rings with top to end best featured generation processors/computers along with 500 Graphics cards/ Integrated Graphics. Even several Mining Equipment have been collected from the Compound at the time of Raid carried out.
The place attacked by Indian Force was precisely governed by the owners of the Mentioned Compound/Place accused named as Kamal Singh and Vijay Kumar, residents of Dehradun.Adding to this the two men Kamal Singh is a DU graduate and Vijay Kumar is an engineer by profession.
The especial Cell of Delhi Police- found the gang for duping 2,500 people for over Rs 100 crore- 1 Billion Indian Rupees.
According to the Special Cell of Delhi Police it is believed to be the biggest Crypto Currency fraud in the national capital.
Accused -Amit Bharadwaj played a significant role in this Fraudulent Crypto Marketing/Trading. Along with this great accusation made to him, the person is also Pakistani ISI Handler.
The arrest at Bangkok Airport of accused Amit Bhardwaj, the real man behind the Fraudulent Scheme- Ponzi Scheme. The Indian Police department got aware how the gang was involved in such a massive crime in Indian History of the Capital Territory. The Master mind man has been brought back to Pune by the Law Makers.
Will the Investors Get Money Back in Dehradun Crypto Scam?
Shockingly to know that the accused had created a website ‘bits2btc.com and came up with their own created currency named HBX and Mcap. They also designed and built another website by the domain name ‘gainbitcoin.com’ which was completely used with other associates and selling non-existent Crypto Currencies.The accused and arrested culprits were that confident to allure and attract the Users/Buyers. For the reason the gang use to held meetings in Five Star Hotel by promising to give extra ordinary returns and 10 percent pay-out twice the month.
The concept of this Multi-Level Marketing every at the Five Star Hotel was to make the common man and people feel that she or he can rule the entire world out there. The gang used to convince the victim people to invest in the Particular Scheme for around 18 Months.
The Public after visiting the meetings held at Huge Hotels get attracted by realizing the power of Bitcoins to invest in GiantBitcoin.
Police came to know by an online petition filed by one of the victims against the operators of the alleged scam a month ago reveals additional details of the MLM scheme. The victim shouts and cries while saying Arrest Kamal Singh- Founder of the Fraud Website. He informs the Police Enforcement by saying he met him. His wife and bothers are involved in such a massive fraud Scamming.
According to the Petition and RBI Circular this Scamming case is filed under CoinRecoil one of the largest Crypto Currency Exchange.The hearing has been set for May 24.
The Indian High Court has passed orders to the Central Bank recently to ban the Regulated Financial Institutions from having any dealings with Crypto Currency entities.
According to the details provided by inside story teller he claims now the Police has not started focusing and made DELHI and Uttar Pradesh their target for Raid, Attack and Investigation.