The operators of Indian Delhi-based renowned cryptocurrency exchange ‘Pluto’ is accused of defrauding 43 investors of over $272k.
In line with recent official news by native reporting media outlet ‘Millennium’ reported that the Economic Offence Wing of the Delhi Police has launched a search against the operators of the Pluto Exchange after 43 investors filed a legal lawsuit with the EOW.
Bharat Verma, the founder of the Pluto Exchange, along with the others involved within the investment scheme allegedly lured investors by promoting that they were operating illegal cryptocurrency trading & cryptocurrency mining operations under the leading firm “F2poolminin.”
Joginder Kumar, one among the 43 investors, claimed that he first met the operators of the exchange in Delhi’s Connaught Place, where they told him about the cryptocurrency scheme that might offer a return of 20% – 30% monthly.
As per an official press release revealed by the Delhi Police, the suspects also promised Kumar another commission if he brought more people to take a position within the investigation scheme.
After not receiving any returns on his investment of over $6,500, Kumar added that he met Bharat Verma who explained that the seizure of the many of the firm’s bank accounts and therefore the plummeting price of Bitcoin [BTC] had forced them to not disburse the returns to the investors.
Presently, Pluto Exchange has shifted its offices from India to Dubai, and consistent with Kumar, the director of the firm, he has collected over $6.8 Mln for the crypto business.
As reported earlier, there has been an increase within the number of cryptocurrency scams targeting Indian investors. Solely between 2017 and 2019, Indian investors have lost over $500 Mln to cryptocurrency scams operated within the country & abroad.