Victim turns out to be the culprit in Bengaluru crypto conversion robbery: Report

Investigators found that alleged victim Shri Harsha orchestrated the entire robbery in Vidyaranyapura, Bengaluru.

In what appeared to be a high-profile robbery in Vidyaranyapura last month, the case has unfolded with unexpected revelations. Investigators have determined that the alleged victim, Shri Harsha, was actually the architect of the crime, according to a report by The New Indian Express.

Bengaluru: 15 arrested, including Harsha, who had lured two businessmen into a fake cryptocurrency deal before staging the robbery. (Lam Yik/Bloomberg)

A total of 15 individuals were arrested, including Harsha, the original complainant, while four suspects remained absconding. The arrested persons have been identified as Harsha, Rakshith M, Chandrashekhar, Benjamin Harsha, Syed Akhib, Mohammed Suhail, Salman Khan, Muheeb S, Mohsin Khan, Salman Khan (second individual with same name), Syed Amjad, Syed Afreed, Syed Wasim and Mohammed Ateeg. Sandeep, Sheikh Sadu, Rakesh, and Mohammed Sabeer are the four suspects who are still on the run, the report stated.

How the fraud unfolded

On June 25, Harsha claimed five armed attackers robbed him of ₹2 crore during a supposed cryptocurrency transaction in MS Palya. He reported being assaulted and losing the cash. However, soon after taking certain suspects into custody, police discovered, through interrogation and evidence such as CCTV and phone records, that Harsha had masterminded the entire scheme.

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Harsha had enticed two businessmen, Bharath Singh from Bengaluru and Abhishek from Mangaluru, with a proposal to convert their ₹2 crore into the cryptocurrency USDT, promising official transaction routes with high profit margins.

The businessmen were led to a shop controlled by one of Harsha’s associates. As the cash was being counted, armed men — also part of the conspiracy — forced their way in, attacked everyone present (including Harsha himself to maintain appearances), locked all inside, and escaped with money packed in sacks.

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After the arrests, Harsha confessed his involvement, identifying the businessmen and confirming the fake investment offer, according to the report. Some of those detained have past criminal records. Cops have also recovered ₹1.1 crore in cash, multiple vehicles including cars and bikes, mobile phones and weapons used during the robbery.

Authorities are now working to locate the remaining suspects and recover the rest of the stolen money. The case will then be reported to the Income Tax Department after the investigation concludes, the report said.