Police in Navi Mumbai have filed charges against five individuals over a Rs 1.32 crore cryptocurrency scam, implicating a scheme that falsely promised high returns through Auris Coin and other deceptive practices.
Navi Mumbai cyber police have opened a case against five people and their associates over an alleged cryptocurrency investment fraud that authorities say left eight investors out of pocket by Rs 1.32 crore.
According to the complaint reported by Free Press Journal, the accused are alleged to have promoted Auris Coin through a company called Apnomics Limited, using claims of fast and substantial returns to draw in investors. Police said the operation included a seminar at a college in Airoli, where organisers allegedly described the coin as capable of rising to $100 and displayed luxury cars and expensive gifts to suggest the business was thriving.
Investigators say the suspects persuaded people to transfer money into personal bank accounts rather than a company account, after which the investors were shown coins in digital wallets. When they tried to cash out, they were allegedly blocked by technical excuses and then asked to pay an additional 25% to release their funds. Police are also examining whether the same group later used another scheme, called Romeonation, to continue the operation.
The case adds to a run of crypto-related fraud complaints in Navi Mumbai and nearby areas. Hindustan Times reported in January that police arrested four people in separate online investment scams involving fake gold, share and forex trading platforms, while NDTV and The Times of India have previously reported on victims in the city losing tens of lakhs to cryptocurrency schemes built around false websites, WhatsApp pitches and promises of quick profits.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
