SIT in Himachal Pradesh conducted raids at multiple locations, and arrested one prime accused in a 2018 massive crypto scam. By Coingape Staff 10 mins ago Updated 10 mins ago
The Special Investigation Team (SIT) raided multiple locations in Himachal Pradesh, India, in connection with the biggest cryptocurrency scam of Korvio Coin, also known as KRO coin.
According to a recent report, On October 29, the SIT started a massive search in 41 locations across Himachal Pradesh, including districts such as Kangra, Una, Bilaspur, Mandi, Hamirpur, and Solan.
After the raid, the SIT team under the Director General of Police (DGP) Of Shimla, also arrested one of the main accused, Abhishek, a resident of Una district. He is also the mastermind behind the massive scam, which scammed over 1 lakh people.
SIT Raids yielded crucial scam evidence:
Notably, with these raids, the SIT team led by Director in General of Police Abhishek Dullar, yielded evidence like crucial documents, mobile phones, property records, and other digital devices, in connection with the 2018 scam.
The investigation started in September, after the Government of Himachal Pradesh formed the SIT team, to investigate the ₹400 crore cryptocurrency scam.
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The SIT investigations revealed that at least one lakh people have been duped in the alleged fraud, and 2.5 lakh IDs have been found, including multiple IDs of the same person. The collected documents helped the SIT probing team move closer to the investigation into the scam, in which people were lured with a promise of handsome investment returns.
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Search for Mastermind Subhash Underway
The SIT produced Abhishek Sharma, one of the main accused in the 2018 scam before the district court. The court remanded Abhishek Sharma to five-day police custody, confirmed a statement issued by the police.
Meanwhile, the police team is making all efforts to nab Subhas, the mastermind of the 2018 Korvio Coin scam. underway. According to reports, Subhash is currently on the run and is allegedly hiding in Dubai.
Meanwhile, earlier on October 7, after conducting raids, the SIT arrested seven accused in the matter, and recorded their statements with the police, setting their direction in the further investigation.
Recently, Indian states reported many crypto scams, which is no less than an eye-opener for people. The concerned authority asked people to be cautious and not fall for such scams. They also urged people to be extra careful and do a proper check before planning for an investment, especially in cryptocurrency schemes.
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