--- title: "Crypto Scam of Rs 10 Lakh happened in Nagpur with famous businessman" description: "Crypto Scam of Rs 10 Lakh happened in Nagpur with famous businessman" author: "Saumya Mishra" published: 2023-11-22 updated: 2023-11-22 canonical: https://www.mindstick.com/news/3564/crypto-scam-of-rs-10-lakh-happened-in-nagpur-with-famous-businessman category: "technology" tags: ["cryptocurrency"] reading_time: 2 minutes --- # Crypto Scam of Rs 10 Lakh happened in Nagpur with famous businessman - **Three persons were arrested for cheating a businessman of Rs 10 lakh in Nagpur by promising high returns on [investment](https://www.mindstick.com/articles/13065/an-investment-in-certification-software-gives-peace) in cryptocurrency.** - **The accused have been booked for cheating and other offenses under the Indian Penal Code.** - **The arrest comes amid a surge in cryptocurrency scam cases in India.** ## Three Arrested for Cheating Businessman of Rs 10 Lakh Nagpur [police have arrested](https://yourviews.mindstick.com/audio/1033/police-have-arrested-3-men-for-killing-a-dalit-man-in-rajasthan-s-soorsagar) three persons for allegedly cheating a businessman of **Rs 10** lakh by promising high returns on investment in cryptocurrency. The accused, identified as **Kiran Bhalerao, Mahesh Kumar Dadwadi, and Sumit Boria**, have been booked for cheating and other offenses under the [**Indian Penal Code**](https://yourviews.mindstick.com/story/2160/common-laws-every-indian-should-know). The victim, **Rukesh Waikar**, invested Rs 10 lakh in October 2023 upon the promise of high returns by the accused. However, after failing to receive any returns, Waikar filed a complaint with the police. Police investigations revealed that the accused had lured Waikar into [investing](https://www.mindstick.com/articles/198788/investing-in-the-right-tech-companies) in a fraudulent [**cryptocurrency**](https://www.mindstick.com/category/article/cryptocurrency) scheme. They had promised him high returns but had no intention of fulfilling their promises. The arrest of the three accused comes amid a surge in cryptocurrency scam cases in India. Just earlier this month, the **Economic Offences Wing (EOW)** of Odisha arrested the Country Head of '**Yes World Crypto Token**' for running a Ponzi scheme that affected thousands of people. ![Crypto Scam of Rs 10 Lakh happened in Nagpur with famous businessman](https://www.mindstick.com/usernews/655071/2f5d2c53-8e95-49f0-a9ea-60fb21195a73/images/0a398bda-a9ed-42e5-85c5-76bb0d0351b4.jpg) Also, a special [investigation](https://www.mindstick.com/news/2149/twitter-claims-in-court-that-elon-musk-is-the-subject-of-government-investigations) team in Himalaya Pradesh on this issue involving one lac people. According to the [**SIT**](https://www.mindstick.com/news/3453/7-more-arrests-by-sit-in-investigation-of-cryptocurrency-fraud), scammers employed different identities in scamming [investors](https://www.mindstick.com/news/2413/with-collapse-of-ftx-genesis-alerts-investors-to-the-possibility-of-bankruptcy-without-new-funding). Following a series of such incidents, the police have warned members of the public and investors to be careful with cryptocurrency. They have advised people to invest only in legitimate [platforms](https://www.mindstick.com/articles/126146/the-current-scenario-of-cryptocurrency-exchange-platforms) and to thoroughly [research](https://www.mindstick.com/articles/311609/how-to-research-the-companies-before-applying-to-their-open-positions) any investment scheme before investing. --- Original Source: https://www.mindstick.com/news/3564/crypto-scam-of-rs-10-lakh-happened-in-nagpur-with-famous-businessman Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.