The Ahmedabad Cyber Crime Cell arrested four people on Monday for allegedly defrauding several people by promising them higher returns on their investments in the cryptocurrency ‘Tron.’ Tron, like Bitcoin, is a cryptocurrency that is legal to trade in India.
According to police, a team of Ahmedabad Cyber Crime Cell arrested four accused Raju Lukhi (42), Altaf Vadhvania (37), Vijay Patel (53), residents of Surat and Zulfikar Halani (43) from Ahmedabad on Monday.
“They floated a fake company named Bulltron and started contacting victims on a multi marketing level asking them to invest money through a mobile application of their company for double returns in seven days,” said a senior official.
“Several people in Ahmedabad who invested large sums of money to the tune of several lakhs were duped by the group. After an FIR was lodged, we arrested the accused using technical surveillance,” he added.