19 family members dupe Maharashtra brothers of Rs 1 crore in crypto scam

   Police in Maharashtra have booked 19 members of the same family for allegedly duping two siblings of over Rs 1 crore in a cryptocurrency scam. The incident occurred in Thane district, where a man and his brother were lured into the scheme with promises of multi-fold returns on their investments.After realising they had been scammed, the 42-year-old victim lodged a complaint at Rabodi police station on Wednesday. The total value of the siblings' combined investment was Rs 1.17 crore.Accused promised 12 times return on investmentThe police have booked individuals identified as Sabir Yakub Ghachi (50), Shakir Yakub Ghachi (45), Ruhiha Shakir Ghachi (39), and several other family members. They are accused of convincing the victims to invest in the scheme by promising them returns of up to 12 times.In hopes of securing large gains, the siblings invested Rs 91.53 lakh and Rs 25.69 lakh starting in March 2022. However, the scam came to light after the accused failed to return the investments. According to the complaint, the victims received evasive responses and were issued threats. The accused also intimidated them by claiming they had connections with influential individuals.The victim then approached the police, an official said.A case has been registered under various sections of the Bharatiya Nyay Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999, police said. No arrests have been made so far.For those unfamiliar, cryptocurrency is a digital currency secured by cryptography, operating on decentralised networks using blockchain technology. Bitcoin, created in 2009, is one of the most well-known cryptocurrencies in the world..storycontent div {margin:10px 0;}