Six arrested in Theni for UBIT cryptocurrency fraud
A group approached the firm asking them to invest money with them saying that the cash would be deposited as USDT to their branch in Dubai.
CHENNAI: A cybercrime unit from the city police have arrested six persons for allegedly swindling over Rs 10 lakh from a private company claiming to convert the money to USDT, a type of cryptocurrency, at a nominal price.
According to the complainant, a group approached the firm asking them to invest money with them saying that the cash would be deposited as USDT to their branch in Dubai.
However, after taking the cash, the group did not reciprocate after which a police complaint was filed. The south zone cybercrime wing police registered a case and traced the gang to Theni and arrested them.
The arrested persons were identified as V Abhiraja (29), A Loganathan (23), E Kumaresan (28), S Mageshkumar (25), S Aswanth (23) of Madurai and Mohammed Ismayil Parvesh (21) of Karur district.
Cash worth Rs 10.9 lakh, a SUV, eight mobile phones, three iPads, 33 sim cards, 20 ATM cards, and four bank passbooks were seized from the gang. All six were produced before a magistrate and sent for judicial remand.