Thane, 3rd October 2024: Police in Thane have filed a case against 19 family members for allegedly defrauding a man and his brother in a cryptocurrency investment scheme that led to a loss of Rs 1.17 crore. An official reported that the complaint was lodged by a 42-year-old man at the Rabodi police station.

Among the accused are Sabir Yakub Ghachi (50), Shakir Yakub Ghachi (45), and Ruhiha Shakir Ghachi (39), who, along with other relatives, convinced the victims to invest in a cryptocurrency program with promises of returns as high as 12 times the initial investment. The complainant invested Rs 91.53 lakh, while his brother contributed Rs 25.69 lakh, beginning in March 2022.

When the complainant sought to recover their funds, the accused responded evasively and issued threats, claiming to have connections with powerful individuals. Consequently, the victim turned to the police for assistance.

The case has been registered under sections of the Bharatiya Nyaya Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999. No arrests have been made yet, according to the authorities.