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Ponzi scheme fraudsters arrested in India

Indian police have detained an Australian crypto-criminals in a Hotel in the vicinity of the airport of Delhi's festival. An Australian citizen has reportedly

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Ponzi scheme fraudsters arrested in India

Indian police have detained an Australian crypto-criminals in a Hotel in the vicinity of the airport of Delhi's festival. An Australian citizen has reportedly built a crypto-Ponzi-program to the value of 14 million US dollars. A total of 1,500 people will be affected by the fraud.

By Alexandra cons
8. August 2019BTC$11.683,00 -2.52%part Facebook Twitter LinkedIn xing mail

The Suspect was since the collapse of his fraudulent Ponzi system by the end of the year 2018 on the run. In Maharashtra, in India, he wanted to build with the profits from his fraud in a new company. Very smooth, his plans were not, however, so he wanted to leave India in the direction of Dubai. It did not come, however, as the Indian police failed to take him before the commencement of the flight in his Hotel.

The Suspected dates from Shivpuri in India and immigrated in 2007 to Australia. There, he operated a security business in Sydney. By the way, he should be in the building Plus Gold Union Coin (PGUC) have been involved. It is a Cryptocurrency exchange based Ponzi System. His accomplice Brijesh Raikwar, Seema Raikwar and Rupesh Rai have already been taken at the end of June.

Illegal, but successful Ponzi scheme

Plus Gold Union Coin is a decentralized platform with a self-regulating financial system. Here, the participants were able to generate through the mining of digital currencies profits. The alleged perpetrator, and his Team held in Melbourne and Sydney seminars to attract investors. The fraudsters targeted mainly Indian Expats in Australia. The Affected include more than 1,500 investors from 22 countries. Including also victims from France, Germany, Japan, Indonesia, Bangladesh, Colombia, Sri Lanka, Finland and Nigeria are to be found.

The crypto-Ponzi-frauds on flew, after about 25 investors had filed out of the Indian state of Madhya Pradesh display against PGUC. Rajib Sharma, an Indian Expat from Australia, reported in an article in the Times of India: "We will start with the Embassy and other authorities, to be active in this case. It is a massive success that the transnational fraud scheme was uncovered.“

Cleverly constructed lie system leads victims duped

The Affected Sharma to a total of 52.000 US dollars in the Ponzi scheme invests. A large part of the amount in cash. Sharma explains:

Everything looked real ... a beautiful Website with our personal Dashboard, and presentations of the organizers, pointing to a projected growth.

The Suspect applied to the PGUC as a Hybrid Crypto, with great return opportunities. You claimed to be a European company with a Background in metal removal. Deepika Shinde, a member of the special team that investigated this case, responded that the alleged perpetrator knew that he advertises for a fake crypto-currency.

He has worked together with the people that started this program. And he knew already in December 2017, that PGUC is a fake currency. But he has it advertised, and a portion of the profit achieved

Shinde said.

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