EoW sleuths search properties of six scamsters in crypto racket
COIMBATORE: Sleuths of the Economic Offences Wing (EoW) carried out raids in eight locations linked to owners of a fraudulent cryptocurrency firm in Krishnagiri and Dharmapuri districts on Sunday.
Six persons, identified by police as Arun Kumar, Nandakumar, Shankar, Prakash, and Srinivasan, all hailing from different areas of Krishnagiri and Velan from Dharmapuri district, had floated the fly-by-night firm, ‘Univer Coin’ and lured investments of several crores from people across Tamil Nadu, Karnataka and Andhra Pradesh.
Their fraud came to light when more than 50 gullible depositors who lost their money submitted a petition to Krishnagiri Collector V Jayachandra Bhanu Reddy recently against the scamsters. The Collector forwarded their complaint to the police for an investigation.
Among the petitioners, Prakash, 46, from Varattampatti near Kaveripattinam in Krishnagiri district alone had invested Rs 7.7 lakh and also persuaded 60 of his friends and relatives to invest in their firm. So far more than 210 persons have lodged complaints demanding action and recovery of their lost money.
Meanwhile, multiple teams of EoW comprising more than 50 staff commenced the search operation in houses, offices and properties linked to six persons at around 5 am in both the districts. Simultaneous raids were carried out in seven locations in Krishnagiri and one in Dharmapuri district.
After search operations, the police sealed the office of the fraudulent firm in Hosur. Police said they have seized crucial evidence and documents and further enquiries are on.