Pune-Bitcoin Investment Scam: Defrauded Investors Of Rs. 1.5 crore

Several individuals, including a doctor based in Mumbai, have accused a Pune-based investment firm of defrauding them of Rs. 1.5 crore.

The Pune City Police have initiated an investigation into a potential Bitcoin investment scam. Following a complaint lodged by Dr. Parag Kemkar, a medical professional from Mulund, Mumbai, the police released a First Information Report (FIR) on April 9.

The accused, Imran Khan, who runs the investment firm from the Ramwadi neighborhood, has been missing since September 2022. The police allege that Khan dealt with bitcoins and promised investors substantial returns. Although he initially provided some returns, he has not done so since September 2022. Khan and the complainant met via Zoom in April 2022, where Khan assured the victim that investing in bitcoins would produce a return that was twice as high as investing in blue-chip firms. The victim went to Khan's office and invested a total of Rs 10 lakh and Rs 15 lakh. Further, the accused fabricated false credentials and provided an explanation of the Bitcoin marketing process.

Eight investors from various parts of Mumbai, such as Mulund, Panvel, and Dombivli, as well as Aurangabad and other places, have reported losses of Rs. 1.47 crore to the police.

The police suspect that more investors may have fallen victim to this scam and are actively pursuing leads in the investigation. A case has been registered at the Yerwada police station under various sections of the Indian Penal Code (IPC) as well as relevant sections of the Information Technology Act, and further probe is underway.