Four accused defrauded a businessman of Rs 1.60 crore by pretending that he would get double returns if he invested money in a ‘crypto currency’ scheme. The accused also include the famous Zam Builder. The incident took place under the Ambazari police station and is being investigated by the Economic Offenses Branch.
The name of the complainant is Vinod Gupta (57) The accused have been identified as Kishore Hansraj Zam, Devansh Kishore Zam, Santosh Ambadas Lande, and Mangal Tiwari. Gupta has a sales business. Vinod was introduced to Kishore Zam through a friend on the occasion of a land sale. Later, both of them became good friends. To impress Vinod, Zam showed his under-construction bungalow on Umred Road. then in 2021, they were informed about the plan of Corbit Crypto Currency. zam had claimed that he got a profit of Rs 1 crore from it.
He pretended that the invested money doubled in six months. Gupta trusted Zam and paid Rs 1.60 crore in stages. But they did not give any refund to Gupta. When Gupta questioned them repeatedly, the accused refused to answer. after that, he raised his hands saying that the company was closed. when Gupta demanded the money back, the accused threatened to kill him. finally, Gupta filed a complaint at Ambazari police station. the police have registered a case of cheating against the accused. the case is being investigated by the Economic Offenses Branch. police have arrested all the four accused.
Kishore Zam had taken a guarantee that the money would be doubled while luring Gupta into the net. Zam had pretended that the owner of the company was Habib from Gulbarga, Karnataka and that he was his good friend. he was corroborated by the other accused. From time to time, Mangal Tiwari used to show Gupta the profit on his investment through a laptop. So he did not get suspicious and started investing more money.
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