Pune Cyber Police Arrest Cryptobiz Director And Accomplice In Rs 2.93 Crore Fraud Case

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Pune, 16th April 2023: The Cyber Police team has arrested the director of Cryptobiz company, Rahul Vijay Rathod (35) of Hinjawadi, along with his accomplice, Omkar Deepak Sonawane (25) of Kondhwa, in connection with a fraud case.

The duo has been accused of cheating more than 43 investors, and preliminary investigation revealed that they had cheated about Rs 2 crore 93 lakh. The police have seized expensive cars, electronic items, two bikes, one motorcycle, a laptop, a mobile set, and a pen drive from the accused.

According to the police, the accused lured Ravi Shankar Patil, one of the complainants, with the promise of huge returns if he invested in their scheme. Initially, they paid him a return on investment from time to time. However, when Patil invested more money, they stopped paying him and did not refund his investment. When Patil tried to contact Rathod, he did not receive any response. As a result, he filed a complaint with the Cyber Police Station.

The police conducted a technical investigation and traced the accused using the CryptoBiz exchange and CryptoBiz app. The accused were arrested and charged with fraud. The police are urging other victims to come forward and report similar incidents.

The action was taken under the guidance of Deputy Commissioner of Police (Cyber & EOW) Srinivas Ghadge by team comprising Cyber Police Station Senior Police Inspector Meenal Supe-Patil, Police Inspector Chandrashekhar Sawant, Sub-Inspector Tushar Bhosle, and Sachin Jadhav, Sandeep Kadam, Santosh Jadhav, Navnath Konde, Praveen Rajput, Bapu Lonkar.

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