Pune cyber police arrest two in crypto fraud case

The accused have been identified as Rahul Vijaybhai Rathod, 35, owner of Cryptobiz company, and his associate Omkar Deepak Sonavane, 25 and they defrauded investors to the turn of ₹2.93 crore

The Pune cyber police have arrested two persons in a cryptocurrency fraud case where they defrauded investors to the turn of ₹2.93 crore, said officials on Sunday.

Police said, the arrest was made based on a complaint lodged by Ravi Shankar Patil, who had invested money and initially earned profits, but later stopped receiving returns. Upon investigation, it was discovered that a total of 43 individuals weren cheated of ₹2.93 crore. (REPRESENTATIVE PHOTO)

The accused have been identified as Rahul Vijaybhai Rathod, 35, owner of Cryptobiz company, and his associate Omkar Deepak Sonavane, 25. After a first information report (FIR) was registered, the police launched a search operation and arrested them within 24 hours.

Police said, the arrest was made based on a complaint lodged by Ravi Shankar Patil, who had invested money and initially earned profits, but later stopped receiving returns. Upon investigation, it was discovered that a total of 43 individuals weren cheated of ₹2.93 crore.

During the investigation, police recovered laptops, mobile phones, pen drives, two-wheeler, four-wheeler and other electronic gadgets from the accused.