Two of the four accused in a massive Rs 12 crore cryptocurrency investment fraud case in Mohali have been sent to a four-day police remand. One of the arrested individuals, Mohan Singh, was brought to police custody from Patiala jail, while his associate, Ashwani, was apprehended in Kurali. The remaining two suspects, Arman Singh and Inderdeep Singh, are still at large.
According to the Matour police station’s SHO, Kulwant Singh, the accused defrauded people of approximately Rs 12 crore through their cryptocurrency firm, Coin Crypto Currency, which they had established. Investors were promised that their cryptocurrency investments would double in 25 months.
A fraud case was registered at Matour police station following a complaint from Sahil Verma, a resident of Nayagaon. Verma had invested around Rs 18.60 lakh in the firm between 2023 and May 2024 and had also convinced his friends to invest Rs 2 lakh. However, the company terminated the scheme and failed to return the invested amounts.
The police investigation revealed that the accused had swindled between Rs 10-12 crore from investors across Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, and even overseas.
The mastermind behind the fraud, Mohan Singh, is a former officer with the Punjab Police who had taken Voluntary Retirement Scheme (VRS) before founding a firm named Harsukh Study Visa and Immigration in Phase 7, Mohali. It was from this firm that he allegedly managed the fraudulent financial transactions.
