Today in New Delhi, India
Nov 16, 2018-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Cryptocurrency racket: Police search kingpin’s house

The Thane police on Monday busted a cryptocurrency racket and found that more than 25,000 investors were cheated of more than ₹500 crore.

mumbai Updated: Jun 07, 2018 01:22 IST
Arvind Walmiki
Arvind Walmiki
Hindustan Times
cryptocurrency racket,kingpin,cryptocurrency scam
Officials raid the office of the Flinstone Group in Thane on Monday.(Praful Gangurde)

Two days after the Thane crime branch unearthed a multi-hundred crore cryptocurrency scam in the city, they conducted search operations at the kingpin, Amit Lakhanpal’s house, in Airoli on Wednesday.

The police seized money and jewellery from Lakhanpal’s house. Officers have asked his family members about Lakhanpal’s location. Senior police inspector, Thane crime branch, Nitin Thakeray said, “We have seized many items and money but we have not counted it. Lakhanpal’s wife and his two-year-old daughter were at home and were not aware Lakhanpal was into this scam.”

“We have arrested Taha Kazi, 26, director of the company which was running for the past few months. We are questioning him to know more about the other accused who are on the run. We are also probing a police officer’s role in the same; his identity is yet to be revealed by the accused,” he added.

It was also found that the other accused who are absconding have kept their phones switched off. The Thane police on Monday busted a cryptocurrency racket and found that more than 25,000 investors were cheated of more than ₹500 crore. The mastermind – Lakhanpal –who studied till Class 8 and had forged doctorate certificates, had in 2017, introduced 105 million coins into the market and told investors their cryptocurrency would be legal tender in a few years. They used it as a bait for investors to put in more money with the lure of high returns and international citizenship and the demand went up to 120 million coins. The three main accused who have been identified are still at large.

First Published: Jun 07, 2018 01:22 IST