Raipur Crypto Investment Scam: Over Rs 1.11 Crore Fraudulent Transactions Under Land and Monthly Commission Pretext
Raipur, Chhattisgarh — A major scam has come to light in Raipur where more than a dozen investors were duped of over Rs 1.11 crore under the guise of cryptocurrency investments promising land ownership and monthly returns of Rs 75,000. The case involves two property dealers who allegedly fraudulently collected money from unsuspecting individuals, luring them with lucrative offers related to crypto gains and land allotment.
Modus Operandi: Crypto Promises Coupled With Land and Monthly Commission
The accused, identified as Abhilash Maseeh and Abhishek Praveen Joseph, residents of Kamal Vihar, operate an office near Devpuri area in Raipur. They attracted investors by promising high profits from cryptocurrency investments along with an assurance that investors would receive 1,000 square feet of land and a monthly commission of Rs 75,000. One of the victims, Dev Balod, a 43-year-old agricultural pesticide trader from Bhagirathi area, reportedly met the accused through an acquaintance in June 2024. Trusting their claims, Dev Balod borrowed Rs 6 lakh from relatives and invested the amount. He initially received the promised monthly commission for one month, but after that, payments ceased. The accused also provided false assurances regarding the registration of the land within three months, which never materialized.
Multiple Victims and Large Financial Losses
Police investigations reveal that the duo defrauded over 12 individuals in and around Raipur. Victims included people who sold ancestral land or borrowed money at high interest rates from their social and financial circles to invest. For instance, Jivan Sahu of DD Nagar’s Gol Chowk area sold his village ancestral land and paid Rs 10 lakh to the accused. Despite receiving commissions twice, payments were abruptly stopped thereafter even after further investments.
Properties Seized in Raipur and Bilaspur
Authorities have identified properties owned by the accused not only in Raipur but also in Bilaspur. Efforts are ongoing to attach and auction these assets to recover the defrauded funds and compensate the victims.
List of Victims and Estimated Losses
- Manish Sahu, Bhanpuri – Rs 6.15 lakh
- Jivan Sahu, Gol Chowk – Rs 12 lakh
- Maheshwar Nishad, Dharsiwa – Rs 24 lakh
- Kuldeepak Kachna – Rs 3 lakh
- Indra Verma, Mowa – Rs 5 lakh
- Bhakham Sahu, Berla – Rs 5 lakh
- Uttam Yadav, Berla – Rs 1.5 lakh
- Tukeshwar Nishad, Magarlod – Rs 15 lakh
- Digambar Pal, Ahivara – Rs 6.5 lakh
- Jayesh Varu, Fafadih – Rs 5 lakh
Police Actions and Warnings
The Raipur police department is pursuing a criminal investigation against the accused and has warned the public to exercise caution regarding investment opportunities promising unusually high returns, especially in cryptocurrency domains. The accused have reportedly shut down their office following the exposure of the fraud.
Victims are urged to come forward with information to assist in the investigation. Authorities are also working to ensure the recovery of the defrauded amounts through asset seizure and auction.
Note to Readers: Investment schemes promising guaranteed returns and perks like land ownership should be approached with extreme caution. It is advisable to verify credentials and consult financial experts before committing funds, particularly in high-risk areas such as cryptocurrency.
For more detailed updates, stay tuned to local news sources and official announcements from law enforcement agencies.