Bengaluru
In a major breakthrough, the Central Crime Branch (CCB) police have apprehended three individuals, including a father and son, for their alleged involvement in a fraudulent investment scheme associated with a cryptocurrency firm known as GGO. The accused, identified as Satish, his son Srikanth, and Deepak, were operating a company named GG Online Pvt Ltd on Sampige Road in Malleswaram. It is reported that the trio engaged in a scheme that deceived approximately 1,300 individuals, amassing an estimated sum of Rs 5-6 crore by promising substantial returns on investments. The modus operandi of the scam revolved around persuading investors to put their money into the company’s cryptocurrency, GGO, while making grandiose claims about its potential to attain a value akin to Bitcoin if it were to be listed on international cryptocurrency exchanges. Such promises lured individuals with the prospect of generating significant profits. The accused cunningly cultivated trust amongst their investors by initially disbursing a 15% daily income as a reward for their investments. The operation expanded as investors, enthused by their gains, took to social media platforms to endorse the scheme. As the network of participants grew, it encompassed family members, friends, and acquaintances, who were subsequently enticed to invest in the scheme as well. The arrest of these individuals marks a crucial step in unravelling this extensive cryptocurrency scam and seeks to hold the perpetrators accountable for their actions, providing some relief to the numerous individuals who fell victim to their deceitful promises.
