Express News Service
KOCHI: Kerala is staring at yet another multi-crore cryptocurrency scam. The police and intelligence agencies have unearthed details of a few suspects who duped people of crores of rupees by promising high returns on cryptocurrency investment. The suspects routed the collected amount allegedly through the accounts of Kochi-based companies, ‘Richferryman’ and ‘DealFX’.
The fraud came to light when an investor, who lost nearly `25 lakh, approached the Perumbavoor police with a complaint. Following a preliminary probe, the police registered a case against K K Vinod, 53, of Mudavoor, Muvattupuzha.The police found the accused and his accomplices held meetings at various places across the state to attract investors and convince them about the huge returns.
“Many attended these get-togethers and invested lakhs. The preliminary details show the accused had duped many people in Kottayam and Pathanamthitta districts. We are verifying the total amount collected by the accused which may come to around `50 crore,” said an intelligence officer.
Police officers said many people even gave gold ornaments to the accused.
“I met Vinod through a common friend who has been working as an engineer abroad. Vinod convinced me that his company was trading in cryptocurrencies and ensured that the risk exposure will be minimum if I invested money in their company. They promised huge returns in the first few months itself. But nothing…
