Indore Crypto Scam Busted: Two Arrested For Duping Investors Of ₹1.34 Crore

Indore (Madhya Pradesh): City crime branch arrested the founder of a company named Nomoex Technologies Pvt. Ltd from Bengaluru and co-founder from the city for cheating Murshid Khan, Kapil Thakur, Amit Narwar, and Rahul Chauhan from the city of a total of Rs 1.34 crore in the name of investment in crypto currency.

According to additional DCP Rajesh Dandotiya, the complainants gave a written complaint stating that founder of the company Abhishek Kumar Mahto and co-founder Anurag Jha, a resident of the Banganga area had persuaded them to transfer the amount to the company's bank account by promising high returns.

The crime branch investigated the case and found that the accused had lured people to invest in their company with false promises of increasing their money 15-times within 6 to 12 months.

Separate agreements were signed with each investor, promising to return 3 to 15 times the invested amount within a year. However, after collecting the money, Mahto and Jha stopped responding to calls and refused to return the money.

Based on the findings, a case was registered under sections 318(4), 316(5), and 3(5) of the BNS and the matter was taken up for investigation.

Both accused, Abhishek Kumar Mahto and Anurag Kumar Jha, have been arrested and produced before the court, which has granted police remand till July 22.

The police will conduct further interrogation regarding the misused investment amount and the overall functioning of the company.