Two leaders of a scheme that defrauded people of their money in exchange for cryptocurrency investments were taken into custody by the Odisha Police Crime Branch’s Economic Offences Wing (EOW).
According to reports, the racket was complicit in an Odisha fraud involving Rs 15 crore.
The accused are Sudhir Patel, an Odishan resident of Sundargarh, and Ved Prakash, a resident of Anupgarh in Rajasthan.
As per the EOW, Ved Prakash was a constable in the Rajasthan Police prior to his dismissal due to evidence of financial misconduct.
Ved Prakash has been hosting promotional meetings at hotels in Bhubaneswar, Sambalpur, Puri, Jharsuguda, Sundargarh, and Bargarh with potential investors since 2022. He was enticing people to make large returns on cryptocurrency investments.
He succeeded in defrauding more than 500 people out of crores of rupees.
Fraudsters such as Ved Praksh have been deceiving people into investing in cryptocurrency, according to EOW SP Dillip Tripathy. They conned millions of rupees from people in Puri, Bhubaneswar, Bargarh, Sambalpur, and Jharsuguda by calling them to meetings at hotels.
By displaying pamphlets and tempting people into investing for extremely profitable returns in a short amount of time, they gained the trust of the public.
Many people in Odisha have fallen victim to their trap and invested about Rs 15 crore with them. Ved Prakash was recently arrested by our EOW team in Anupgarh. We brought Sudhir Patel and Ved Prakash to the Cuttack OPID court, Tripathy said.
