News Karnataka
Wednesday, March 29 2023

Mangaluru: Man duped of Rs 3 Cr in cryptocurrency fraud

Fraud case
Photo Credit : IANS

Mangaluru: A Borugudde Kannur resident filed a police complaint stating that he was duped of Rs. 3 Crore in cryptocurrency fraud.

Mohammed Shafad C. K. and Mohammed Afid C. K. have been charged with defrauding investors in cryptocurrencies under the guise of promising them high returns.

As per the complaint, Mohammed Shafad allegedly told the complainant about his success investing in cryptocurrency and his search for investors in January 2020. Shafad has promised a 25 per cent annual return on cryptocurrency investments.

According to the complainant, he made more investments of Rs. 7 lakh through the account of Jasmin Hamsa, who was suggested by the accused.

The complainant added that he had invested Rs. 3 Crore in the scheme from the money he had collected from his friends. But after then, it was impossible to get in touch with the accused.

According to the complaint, he recently learned that Shafad and Afid were identified as accused of cryptocurrency fraud in Bengaluru in 2022 through a trading app called N-ME INNOVATIONS LLP.\

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