Shimla Nov 7 (FN Agency) Himachal Pradesh Director General of Police Sanjay Kundu on Tuesday said the Special Investigation Team (SIT) probing the Rs 2500 crore cryptocurrency fraud would succeed in the extradition of the kingpin from Dubai soon Kundu told the media here that the fraud Kingpin Subhash Sharma, who had fled to Dubai, would be arrested soon. He said Sharma’s visa is about to expire. Once it expires, it won’t be renewed by any country and he will be arrested at the international airport, as lookout notices have already been issued to bring him back. He said because of the stern actions of the SIT, fearful fraudsters are returning the investors’ money. Meanwhile, the police have frozen property worth Rs 12 crore of the accused. Recently two properties of Sharma worth Rs 3.50 crore have been seized.
Kundu said the police have submitted the status report related to cryptocurrency fraud in the High Court and the designated Court in a sealed cover envelope. The court is also satisfied with the police investigation. Nine people applied for anticipatory bail in the High Court and the Designated Cour, but the judiciary turned down their prayers. The top cop said it is not yet known who is the investor or the victim in cryptocurrency. Till now 350 complaints have been received in the matter. The fraudsters have mostly targeted government officials and employees and those who received compensation for the land acquired for four-lane road projects Such people were lured to invest their money. Even the banking and taxation system could not detect the fraud, the DGP said. “This is a major thing. Generally, banks and Income Tax department keep an eye on transactions of more than Rs 50,000, but this scam of Rs 2500 crore did not come to the notice of these departments”.
The DGP said Sharma and his associates spent Rs 3.50 crore on foreign tours of some people investing in cryptocurrency. They were taken on tours to Dubai, Thailand, and many other countries so as to win thei trust. In Sarahan area of Sirmaur district, an ex-serviceman was cheated of Rs 1.5 crore, he said/ The former soldier Vidya Prakash, lured by the promise of his investment doubling in two years, pumped in his life’s savings in cryptocurrency. Now, he has filed a police complaint, which has been forwarded to the SIT formed to investigate the cryptocurrency fraud. Deputy Chief Minister Mukesh Agnihotri stated on Monday that 5000 government employees including police personnel have become victims of the cryptocurrency racket which is being probed.