Crypto Scam Organizer in India Goes into Hiding Abroad After Massive Fraud
Date: 2023-10-06 Author: Dima Zakharov Categories: IN WORLD
Escape of the Organizer of a Massive Crypto Scam in India
The organizer of one of the most extensive cryptocurrency fraud schemes in India, Subhash Sharma, has managed to evade justice and flee abroad. This event has garnered significant attention and become the focus of both local and global media. Sharma, who is believed to be the mastermind behind the crypto scam that inflicted losses on thousands of investors in various states of northwestern India, is now the subject of an international manhunt.
Uncovering the Scale of the Crypto Scam
The scale of this crypto scam was exposed thanks to the persistence of legislator Hoshiar Singh, representing the state of Himachal Pradesh. Singh estimated the damage caused to investors to be more than $24 million. This amount illustrates how challenging it was to uncover this scheme and how intricate it was.
Alleged Refuge - Dubai
Subhash Sharma is believed to have fled to Dubai, but his exact whereabouts remain unknown. This presents serious challenges for law enforcement agencies, which have intensified efforts to apprehend him. Discussions are underway about involving Interpol and central authorities to issue a "red notice" for his extradition to India.
Cryptocurrency Fraud and Victims
Cryptocurrency fraud became apparent when investors began reporting significant losses. They were lured in by promises of high profits and exaggerated claims related to a fake cryptocurrency called "Korvio Coin." This name has now become synonymous with the crypto scam that turned the lives of many upside down.
Accusations and Manipulations
Subhash Sharma and his accomplices have been accused of manipulating cryptocurrency prices for their own gain, causing substantial financial harm to unsuspecting investors. This case underscores the importance of regulating cryptocurrency markets and the need for caution when investing in such assets.
The Investigation Continues
The Special Investigation Team continues its active probe, highlighting the significance of combating financial fraud and ensuring investor protection. Many are awaiting and hoping for the successful conclusion of this complex mission to locate and extradite the alleged mastermind of this crypto scam, ultimately bringing him to justice and recovering losses for affected investors.
