Crypto Currency Fraudsters Dupe Rs 50 Cr From Tomato Farmers In Himachal Pradesh

As many as 150 tomato farmers in Balh Valley of Mandi district were defrauded of Rs 50 crore by a Multi-Level Marketing (MLM) network that lured them to invest in cryptocurrency. The farmers, who had earned a good income from selling tomatoes at Rs 200 per kg, lost their savings to the fraudsters who promised to double their money. Some farmers have been investing since 2019 but have not received any returns.

The MLM network also cheated vegetable market operators, leaders and politicians of Himachal Pradesh. Some of them managed to get their money back by intimidation, while others were left empty-handed. The fraudsters had added about one lakh people to their network across the state and fled with their money.

The state government has formed a Special Investigation Team (SIT) of the police to probe the complaints. More than 72 complaints of fraud were received in a week from five districts including Mandi, Kullu, Lahaul Spiti, Hamirpur and Bilaspur districts. 

ALSO READ: Azamgarh Fake Madrasa Case: Allahabad HC Rejects Plea Challenging SIT Report And FIR

Police have arrested two of the four main accused and have sought the cancellation of visa of the mastermind Subhash Sharma, who is in Dubai. The other three accused are Hemram, Sukhdev and Milan Garg.

ALSO READ: Newborn Declared Dead By Doctors Found Alive Minutes Before Cremation In Assam’s Silchar

The victims of the fraud lodged complaints in the Cyber Crime Cell Mandi and have demanded their money back from the agents of the MLM network. Police have warned the public to be wary of such fraudulent schemes that offer unrealistic returns on investment and to be vigilant digital users.