- An acquaintance in Surat reported dacoity and a crypto scam to a Hyderabad-based victim.
- Accused and eight others charged under IPC 395 for Dacoity have fled but were captured on CCTV.
The police had received a call about an alleged robbery at an Angadia firm, which had led them on a wild goose chase, but with no official complaints, they were about to dismiss the case as a hoax.
According to reports, it turned out to be a dacoity in the name of crypto investment when the Hyderabad-based victim filed an official complaint, based on which police registered IPC 395, Offence of Dacoity against Pintoo Kumar Jha, Amit, Suman Singh, and others.
“Jain first met Lakshminarayan, a cryptocurrency trader in Hyderabad, about two months ago. Lakshminarayan enticed Jain to invest in cryptocurrency for higher returns, and after he agreed, he introduced him to PK Jha.
On February 3, Jain, his brother Aakash, Lakhminarayan, and driver Shinu drove down to Surat in his father’s Fortuner car after a few meetings with Jha in Hyderabad. Jain deposited Rs 6 crore in an Angadia firm there before embarking on their Surat journey, which he later collected in Surat. Jain claimed he had collected the funds from his relatives in order to invest in cryptocurrency “ said the cops.
According to the case details, Vinay Jain (29), a resident of Hyderabad’s Film Nagar, told the Varachha police that he came to the city to invest in cryptocurrency after being enticed by the accused, but instead was robbed of Rs 2 crore.
When Jain transferred the money to Jha, there was no trace of it in his crypto account for a long time, and when he questioned and waited for it, he was thrashed by about eight others who joined in on the argument with Jha. Before police arrived, the accused had fled the scene.
The incident began in Hyderabad when an auto parts businessman, Vinaj Jain, met Lakshminarayan, who, according to reports, deals in cryptocurrency. The latter enticed the complainant, Vinay Jain, to invest in cryptocurrency for higher returns, and after agreeing, introduced him to the accused, Pintoo Kumar Jha.