Facebook Friendship Costs Ahmedabad Land Broker ₹90 Lakh in Cryptocurrency Scam
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Summarized by AI; it may make mistakes. Check important info
Tragad resident allegedly lured by a woman into crypto trading after being shown ₹1 crore in fake profits; cyber fraudsters extracted ₹70 lakh in fees and another ₹20 lakh to reactivate a suspended wallet
A 45-year-old land broker from Ahmedabad’s Tragad area allegedly lost ₹90 lakh after a woman he befriended on Facebook lured him into a cryptocurrency investment scam, promising substantial returns.
The fraudsters allegedly showed him profits of ₹1 crore within five days of trial trading and subsequently demanded money under various pretexts, including income tax, wallet exchange fees and charges to reactivate a suspended account.
The victim, identified as Henish (name changed), eventually approached the Securities and Exchange Board of India (SEBI) to verify the cryptocurrency company. He then realised that he had allegedly been cheated and lodged a complaint with the Cyber Crime Cell, which has launched an investigation.
Facebook Friendship Led to Crypto Investment Pitch
According to the complaint, Henish became acquainted with a woman identified as Madhuri Mehta on Facebook a few months ago. Their conversations developed into a friendship, and they exchanged WhatsApp numbers.
Madhuri allegedly told him that she traded cryptocurrencies for a company and earned substantial profits. She subsequently introduced him to an associate identified as Charlie, who contacted Henish and shared a link to the company’s website.
The website allegedly displayed profits of ₹1 crore generated within five days of trial trading, creating the impression that the money was available for withdrawal.
₹70 Lakh Demanded to Release Fake Profits
When Henish attempted to withdraw the purported earnings, the accused allegedly demanded money for income tax and wallet exchange fees.
Trusting their assurances that the payments would be returned along with his profits, he deposited a total of ₹70 lakh.
However, the promised returns were not released. Instead, the fraudsters allegedly told him that his cryptocurrency wallet had been suspended over suspected money laundering and illegal financial transactions.
Another ₹20 Lakh Paid to Reactivate Wallet
The accused allegedly demanded an additional ₹20 lakh to reactivate the suspended wallet and recover the money.
According to the complaint, Madhuri again invoked their friendship to persuade Henish to make the payment. He subsequently deposited the additional amount, taking his total loss to approximately ₹90 lakh.
The wallet was not reactivated even after the payment. Madhuri later allegedly informed him that Charlie had quit his job, further raising his suspicions.
SEBI Visit Exposes Alleged Cyber Fraud
Growing suspicious of the repeated demands and the failure to release his funds, Henish visited the SEBI office to enquire about the cryptocurrency company.
He subsequently realised that he had allegedly fallen victim to a cyber fraud orchestrated through the Facebook friendship and the purported investment platform.
The Cyber Crime Cell has registered a complaint and initiated an investigation based on technical analysis to trace those involved in the alleged fraud.
