A Bhavnagar teacher who was delivering four per cent returns on 'Meta Galaxy Coins', a crypto, has absconded, leaving investors in the dark about ₹12 crore, reports suggest.

The government-school teacher, known as Jani, had launched the 'Meta Galaxy Coin' in Dec 2022 and had promised three-fold returns to the investors. 

The teacher was giving away regular returns before

Reports suggest that since the teacher was giving away regular returns, the investors had trusted him with more money, and had collectively invested an amount of ₹12 crore. However, the website for the Meta Galaxy coin shut down in April.

A few days ago, the teacher had applied for leaves in the school and switched off his phone, leaving the investors devastated. Most of the investors were Saurashtra-based Surat residents.

The investors were also taken to Bangkok

The crypto launch was backed by Pankaj Gohel, a foreign resident who was behind the similar-fated 'Ignet coin'. Gohel’s men, Vaghela, Mangrolia, and Naghota also took the investors on a Bangkok trip. The developer of the crypto had an office in Vesu, Surat, suggest the reports.

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