Indian Bank Manager Behind $8 Million Scam Was Arrested
By Evan Ducktator on ALTCOIN MAGAZINE
There are hundreds of big scam communities still out in the open, even after the public started working together in order to diminish the threat to the crypto community.
2017’s Kashhcoin scam was considered to be over when the person behind it was arrested a year later. Asif Ashraf Malkani created a big network of fraudulent managers who would advertise the coin and sell it to innocent people promising ten percent returns on their investments. A lot of people saw the ads featuring Sunny Leone (a porn star and now a Bollywood actress) and many other Indian celebrities, which had its influence on the audience, according to Times of India.
Trying to catch everyone involved, Indian Police is still working on the case, two years later. This time they’ve caught Sandeep Singh Dua who had been working in a private bank and confessed to his crimes after getting caught. Other than him, seven people have been arrested and charged with fraud.
Kashhcoin founder Malkani lured people in by throwing these big, high-end parties and events promoting his product. He invited many celebs and promised too much.
He already had committed other frauds in the past. There are Unetnet ($58 million stolen), V-Fix cryptocurrency (for the V-Tube website that still works) and Puneet Enterprise (a big company with enough money in their bank account) on his record, as reported by New Delhi police.
I don’t know how many are still out there, but I hope we can all cooperate together to fight the scammers!
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