In a major crackdown on the infamous Rs 2,500-crore cryptocurrency scam in Himachal Pradesh, 80 people have been arrested in connection with 13 different cases. The authorities have seized properties worth Rs 37 crore so far, including luxury vehicles, plots, and even an excavator.
The authorities disclosed this information in the Vidhan Sabha in response to a question from Shahpur MLA Kewal Singh Pathania. Of the arrested individuals, 76 are from Himachal Pradesh, and four others are from outside the state.
Among the main accused, Subhash Sharma of Mandi has had properties worth Rs 7 crore seized. These include land in Nabha and Zirakpur, plots on VIP Road, and a three-story building in Mandi, which is registered under his wife, Romita Kashyap’s name. Additionally, four commercial showrooms in Zirakpur and other land parcels in Una have been seized.
Another accused, Vijay Juneja, a resident of Zirakpur, had his properties, totaling Rs 20.54 crore, confiscated. These assets include agricultural land in Nabha and Zirakpur, purchased between 2021 and 2024. Juneja, along with his sons and other accused individuals, including Subhash Chand, Sukhdev, and Hemraj, had acquired these land parcels.
Hemraj, a Mandi resident, has had properties worth Rs 3.04 crore seized. His assets include 5.95 hectares of land in Manali, land in Nabha and Zirakpur, along with luxury cars like a Mercedes and Grand i10 valued at Rs 45 lakh. Additionally, a Tata Hitachi excavator has been seized.
The accused individuals used fraudulent websites to lure people into investing their hard-earned money, promising them returns through virtual currency. While some investors initially received returns, most ended up losing their money as the accused embezzled funds through fake digital coins and scam websites. Despite the early profits, the scam was a massive financial fraud, with thousands of victims losing substantial amounts of money.
The Himachal Police have continued their investigation into the massive fraud, with several individuals implicated in creating fake websites and digital currencies to deceive the public. The authorities are likely to recover more assets and make further arrests in the coming weeks as they close in on the full extent of the fraud.