Crypto scam: SIT files supplementary chargesheet
The Special Investigation Team (SIT), constituted to investigate the Rs 2,500 crore cryptocurrency scam, has filed a supplementary chargesheet against Milan Garg, one of the key associate of the kingpin of the scam.
Milan Garg (35), a resident of Meerut in Uttar Pradesh, was allegedly involved in designing and marketing of fake cryptocurrency coins that were used to dupe people of their money in return of offering exorbitant returns on their investments.
In July, the SIT had arrested Milan Garg, who was the key associate of Subhash, the kingpin of the scam. Garg was involved in designing and marketing of fake cryptocurrency coins. However, Subhash still remains fugitive and is said to be hiding in Dubai.
In 2018, the accused used Ponzi cryptocurrency schemes to lure investors by promising them higher returns on their invested capital in a short span of time. They used to approach the investors, including government employees and police personnel, with an investment plan based on a locally developed crypto coin.
However, the investors got suspicious after they stopped receiving money. Later, the investors were threatened to either keep quiet or else lose their money.
In 2023, during the monsoon session of the Himachal Pradesh Legislative Assembly, the then Independent MLA from Dehra, Hoshiyar Singh, had highlighted the matter. Hoshiyar Singh had expressed concern over the scam after which Deputy Chief Minister Mukesh Agnihotri ordered an SIT to investigate the matter.
As many as 26 accused have been arrested so far in connection with the scam. Besides, property worth crores has been seized. However, Subhash remains fugitive and is said to be in Dubai.
