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Nagpur MBA Student Duped Of Rs 28 Lakh In Crypto Fraud By Man Who Posed As Investment Advisor On Telegram

A fraudster, posing as an investment advisor, approached the student via Telegram messaging platform on November 17, 2023, and advised him to invest in cryptocurrency, saying it will give him good returns.

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A 28-year-old MBA student in Maharashtra's Nagpur has allegedly been duped of Rs 23 lakh by a man who posed as an investment advisor and approached him via Telegram messaging platform for a cryptocurrency plan.

The 28-year-old man, hailing from West Bengal's Hooghly, was lured by a person to invest in a cryptocurrency scheme. The person promised the student good returns.

A fraudster, posing as an investment advisor, approached the student via Telegram messaging platform on November 17, 2023, news agency PTI quoted an official from Wathoda police station as saying on Tuesday.

The student initially deposited Rs 1,000 into a bank account specified by the person and received Rs 1,400 in return, thereby reinforcing his belief in the scheme, the official said.

Over a period of time, the student ended up depositing a total of Rs 23 lakh into the account, hoping to get profits as promised.

However, the student neither received the promised returns nor was he able to retrieve the invested amount, the official said.

Based on the student's complaint, the Wathoda police on Tuesday registered a case under relevant provisions of the Indian Penal Code and the Information Technology Act and were conducting a probe into it.

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