Rs 12cr crypto scam in Mohali: 2 accused sent to police remand

Mohali: Two of the four accused in Rs 12 crore cryptocurrency investment fraud case in Mohali have been sent to four-day police remand. One of the accused, Mohan Singh, was brought on a production warrant from Patiala jail, while his associate, Ashwani, was recently arrested from Kurali. Two more accused in the case, Arman Singh and Inderdeep Singh, are on the run.Matour police station SHO, Kulwant Singh, said the suspects defrauded people of about Rs 12 crore through a cryptocurrency firm, Coin Crypto Currency, which they had established. The investors were promised that their investment in cryptocurrency would be doubled in 25 months.A case of fraud was registered at Matour police station against them on a complaint by Sahil Verma from Nayagaon. The complainant invested around Rs 18.60 lakh in the company from 2023 to May 2024 and convinced his friends to invest Rs 2 lakh. The company later terminated the scheme and never returned the invested amount.The accused allegedly swindled Rs 10-12 crore from investors across Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, and overseas, the police investigation revealed.Mohan Singh, the prime accused and the architect of the fraud, is a former officer with Punjab Police. He took VRS before establishing a firm, Harsukh Study Visa and Immigration, in Phase 7, from where he managed the financial transactions.