Bengaluru, August 16: A case of fraud surfaced from Karnataka where a businessman was cheated of Rs 3.5 crore by cyber crooks by making false promises on investments. Reports inform that the businessman, based in Bengaluru, was duped by the fraudsters on the pretext of helping him invest in the cryptocurrency business. According to a report by TOI, two persons have been arrested by South CEN Crime police recently for committing the crime.

The victim, identified as 37-year-old Gowtham, is a resident of JP Nagar in Bengaluru. He had filed a complaint in connection with the fraud on June 28. The man lost the whopping amount as he was lured in cryptocurrency business after his friend  Ramesh had made profits. Gowtham showed interest in the business and asked his friend about it. However, his friend stated that he had little knowledge in the sector and asked him to contact his friend Chandrana, who was an expert in the cryptocurrency business. Bangalore-Based Fraudster Dupes Man in Hyderabad of Rs 3.1 Lakh on Pretext of Selling Bitcoin, Arrested.

Soon after, Gowtham spoke to Chandrana and expressed his willingness in investing in the cryptocurrency business. On May 15, Gowtham transferred Rs 3.5 crore to two bank accounts provided by Chandrana to purchase cryptocurrency but Chandrana neither arranged cryptocurrency, nor returned the victim's money. As soon as the incident was reported, Police gathered details of the bank accounts to which the victim had transferred the amount and traced Piyushbhai and Rajeshbhai.

The accused, Piyushbhai Himmatlal Soni and Rajeshbhai Dhirajlal Soni are from Gujarat. The TOI report informs that the main suspect named Kunal Anup Chandrana, is still on the run. A local court had dismissed Chandrana’s anticipatory bail plea on August 10.

(The above story first appeared on LatestLY on Aug 16, 2021 04:58 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).