PANAJI
The Economic Offences Cell (EOC) has begun and investigation into massive Rs 7.36 crore investment fraud, in which several investors were duped through cryptocurrency and online trading schemes.
Details shared by Goa police reveal that a Bicholim-resident Poonam lodged a complaint alleging Lavish Choudhary alias Nawab Ali, a native of Uttar Pradesh presently residing in Dubai, along with nine other accused persons committed the fraud.
As per the complaint, Choudhary allegedly projected himself as the founder of multiple entities — Botbro, QFX Trade Ltd, Yorker Capital Markets, Botalpha, Crossmarkets and Minecrypto — and, along with the co-accused, induced investors by promising high returns.
The other accused persons allegedly acted as promoters and representatives of these entities, approaching investors in Goa, explaining company policies and persuading them to invest through cash, online transfers and cheques.
“Several investors deposited money in cryptocurrency and other online platforms linked to the entities. The accused allegedly failed to return the invested amounts and misappropriated the funds for personal gain,” the police said. The accused allegedly remain on the run.
