TechFlow news: On September 12, according to Bitcoin.com News, police in Pune, India received reports from three retired military personnel who fell victim to a cryptocurrency investment scam, losing INR 7.981 million (approximately USD 96,000). According to an investigation by Chandannagar police in Pune, since 2022, a trading company lured victims into investing their retirement savings with promises of doubling investments within 20 months and offering 10% monthly returns. The company had held cryptocurrency seminars across Maharashtra to expand its audience. Police have now filed investigations against eight senior executives of the company. The company's director and one former military officer involved were previously arrested in connection with similar cases and are currently detained at Yerawada Prison. Authorities are awaiting court approval to further interrogate the suspects.
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