Cryptocurrency scam: Man arrested in Bengaluru for cheating several investors


Team Udayavani, Oct 1, 2022, 3:05 PM IST

Bengaluru: A 29-year-old man has been arrested for allegedly cheating several investors with the promise of hefty returns on investments in cryptocurrency.

The arrested accused has been identified as Shaneed Abdul Ameed (29), from Kannur, Kerala.

Shaneed had allegedly created a few Telegram groups. His acquaintances in that group allegedly sent fake SIM cards and fake bank account information to him through couriers.

He along with his friend Nihal used to send links to the public using fake SIM cards. Once the victim clicked on the link, Shaneed could access their bank details.

Using this information, Shaneed stole money from the victim’s bank account.

Following this, he was arrested by Bengaluru police officials.  However, it is said that the kingpin of the crypto scam is in Dubai.

222 SIM cards, 10 mobiles, 10 debit cards, passbook and cheque book were seized from the accused.

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