Bhubaneswar, April 15: The Economic Offences Wing (EOW) of Odisha Crime Branch has apprehended two individuals linked to a cryptocurrency scam worth Rs 15 crore. Identified as Ved Prakash and Sudhir Patel, Prakash was captured in Rajasthan’s Anupgarh on April 10, while Patel was arrested in Sundargarh on April 14. An EOW statement revealed the seizure of several incriminating documents from the suspects.

As per the investigation, their arrest stems from a complaint filed by Pram Sagar Khamari, alleging that the duo, through entities like ENG Crypto, Entice Capital, USDT Club, ADS Exchange, and CRIT 11, deceived multiple investors, primarily in western Odisha, of over Rs 14 crore under the guise of cryptocurrency investments promising hefty returns.

The complainant, enticed into investing Rs 48,02,200, received a meager return of Rs 20,000.

In 2022, the accused, in collusion with others, conducted extensive promotional activities across Odisha, organizing meetings and enticing investors with promises of high returns, even doubling their investment within a short period. They also incentivized investors to bring in more individuals for additional benefits. The fraudsters utilized false documents such as brochures and schemes to lure investors with high-interest rates, paying minimal returns initially to build trust before absconding with crores of rupees.

The investigation revealed that their targets were primarily individuals lacking computer literacy, exploiting their lack of knowledge to persuade them to transfer money directly to accounts under their control.

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