Bitcoin fraud case accused nabbed from airport

NAGPUR: A 30-year-old alleged fraudster, identified as Nisedh Wasnik, has been arrested by the Economic Offence Wing (EOW) sleuths from Dr Babasaheb Ambedkar International Airport on Wednesday when he was about to leave the city for a family holiday in Andamans. He was arrested in connection with Rs 26 lakh

fraud

perpetrated by luring people to invest their

Bitcoins

in an international company.

Sources from EOW said Wasnik was part of Malaysian company Future Bit that belonged to one Mike Lucy and Romji Bin Ahmed. The company, which had held several seminars in city since January last year, offered to double the amount of virtual currency Bitcoins invested in their firm after a period of 90 days. Till the completion of 90-day period, investors were promised 1.05% interest daily.

The investors, provided with an ID and password for their accounts, were made to purchase their Bitcoins from an Ahmedabad-based company Zebpay Pvt Ltd. After several investors, including many from city, invested their Bitcoins in Malaysian company, it wrapped up the operations leading to complaints against it. Police said the investors from city, including complainant in the case Mayuresh Ganorkar, had already invested Bitcoins worth about Rs 26 lakh.

An officer of EOW said Wasnik was produced before a court on Thursday that allowed a five-day custody to the cops for interrogation. The Malaysian company had floated it’s operation in city without seeking any permission from either RBI or SEBI.