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‘ShareHash’ Conmen Arrested For Crypto Fraud In Bengaluru, India
A cab driver, a scrap merchant cum painter and mechanic fromBengaluru thought their dreams of becoming rich overnight came true whenthey received around Rs 3 crore in their bank accounts.
Andrew
1:15 18th Apr, 2022
Frauds

The money was the remuneration paid to them for becoming 'board of directors' for 'ShareHash' company, dealing in cryptocurrency.

But now, the same board of directors are cooling heels in prison on charges of duping several thousands of investors of money on the pretext of higher rate of interest. Accused so far arrested are – Sheetal Bastawad from Belagavi, cabbie Imran Riyaz from Gurappana palya, two wheeler mechanic Rehamatulla Khan and scrap merchant cum painter Zabiulla Khan, both from BTM Layout II stage. All the accused are in their late 20s.

Sleuths from Central Crime Branch (CCB) who are probing the case, are now looking for two 'founder directors' of 'ShareHash' identified as Jimmy and Stacy, who are incommunicado.

Initially, Jimmy and Stacy roped in Sheetal Bastawad after contacting him on social media, offering him the job of 'company secretary' with around Rs 1 lakh remuneration plus commission. Other three accused came into contact with Sheetal after contacting his mobile number they received through SMS or emails.

Addressing the press meet, city police commissioner said the founder directors of ShareHash lured the investors through bulk messages sent on mobiles and emails saying their money will be invested in Crypto Currency business. Investors were to download 'ShareHash' app and start investing.

"Accused promised a daily return of Rs 29 for Rs 3,000 invested and Rs 49 for Rs 5,000 investment. The firm started operating in first week of November 2021. As regular payments were made to the investors, ShareHash won the confidence of the people soon and there were more investors by end of December 2021. In the
same time, accused made another offer saying an individual can start his or her own cryptocurrency business and demanded Rs 42,000 for providing the needed materials," he said.

There were over 100 'ShareHash' Whatsapp groups with over 200 members in each group.

Source



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