“Cryptocurrency Scam Costs Mangaluru Man Rs. 3 Crore”

Two men, residents of Kannur Borugudde, have been accused of conning Rs three crore on the pretext of investing in cryptocurrency. Mohammad Shafad C K and Mohammad Afeed C K are the accused. Mohammed Shafad was known to the complainant.

He told the complainant to inform him of any good investors to invest in cryptocurrency as he has made crore of rupees in January 2020. The complainant was himself interested in the returns of cryptocurrency and said that he is going to invest Rs two crore. Mohammed Shafad took the money from the complainant on the promise of doubling it in a short time.

Inder Singh as a mediator for the profit. In January 2020, Mohammed Shafad and his brother Mohammed Afeed visited the complainant’s house. The complainant gave Rs 35 lac to them.

A month later, Mohammed Shafad sent the complainant a Whatsapp message saying he had made a profit of Rs 8.75 lac in one month and showed a cryptocurrency account.

Mohammed Shafad said that due to Covid the profit payment was delayed and would be updated in the next two months. He also suggested the name of Jasminder Singh as a mediator for the profit.

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