Pune Bizman duped of ₹10 lakh by two who promised cryptocurrency at lower price

PUNE Two people were booked by the Pimpri-Chinchwad police on Friday for duping a man of ₹10 lakh by falsely promising him cryptocurrency at a subsidised rate

PUNE Two people were booked by the Pimpri-Chinchwad police on Friday for duping a man of ₹10 lakh by falsely promising him cryptocurrency at a subsidised rate.

Two people were booked by the Pimpri-Chinchwad police on Friday for duping a man of ₹10 lakh by falsely promising him cryptocurrency at a subsidised rate. (REPRESENTATIVE IMAGE)

A complaint in the matter was lodged by a 31-year-old local businessman who lives in Kothrud and is a native of Shirshi in Karwar district of Karnataka, according to the police.

The man allegedly met the two men at a hotel in Tathawade on February 26 around 1 pm.

The complainant knew one of the two accused from before the exchange of money happened. The accused showed him valuable belongings in his possession and assured him of having USDT cryptocurrency. The accused allegedly promised to give the currency to him for a price that was less than ₹5 per unit compared to its market rate. The complainant, therefore, agreed to and paid ₹10 lakh in form of ₹500 bills. However, the man never got the promised cryptocurrency, according to his complaint.

A case under Sections 406 (criminal breach of trust), 420 (cheating), and 34 (common intention) of the Indian Penal Code was registered at Wakad police station.