Overview
- Kasarwadavali police registered a case against a 44-year-old Thane resident after a complaint was filed on Monday, May 25, alleging he cheated seven people by promising high returns on cryptocurrency investments.
- Victims deposited a total of Rs 1.61 crore into a bank account the accused specified and later realised they did not receive any promised returns.
- Investigators say the accused instructed investors to put money into a woman’s account linked to his office, which police are tracing as part of the money flow inquiry.
- Rabodi police are separately probing a April 9–28 impersonation scam in Thane in which a 70-year-old was tricked into transferring Rs 40.5 lakh after fraudsters posed as officers and used the Signal app for video calls.
- Authorities say both cases fit common fraud patterns in the region—promises of unrealistic returns, use of intermediary accounts, and social‑engineering—and the probes will examine bank transfers, named suspects and any links between the schemes.