The Central Bureau of Investigation (CBI) has taken steps to seize cryptocurrency worth over $930,000 (approximately Rs 7.7 crore) from an Ahmedabad-based individual. This individual is accused of engaging in fraudulent activity, targeting a U.S. citizen by assuming the identity of a senior executive within the fraud department of a multinational corporation. According to officials, the CBI initiated this action based on information provided by the United States Federal Bureau of Investigation (FBI).
The accused, identified as Ramavat Shaishav, is alleged to have contacted the US citizen over the phone and introduced himself as "James Carlson", representing Amazon's fraud department.
During the course of its search and investigation, the CBI successfully located and secured a substantial amount of cryptocurrency within Shaishav's e-wallet. This cryptocurrency cache included 28 Bitcoin, 55 Ethereum, 25,572 Ripple, and 77 USDT. Notably, these digital assets were quickly transferred to the official government wallet at the time of their seizure, officials confirmed.
The accused, Ramavat Shaishav, reportedly employed a deceptive strategy to exploit the victim. He convinced the victim that unauthorized persons had gained access to her Amazon account and further claimed that the victim's social security information was being used in four different states to open accounts on the popular e-commerce platform.
The Central Bureau of Investigation (CBI) spokesperson said: "It was also alleged that the accused induced the victim to withdraw cash from his bank accounts and deposit it in Bitcoin in the RockitCoin ATM wallet, and also shared a QR code informing him falsely (the victim) that it was opened by the United States Treasury for him.โ
In an attempt to establish trust with the victim, Shaishav allegedly sent an email containing a fabricated letter. The letter, purportedly dated September 20, 2022, falsely claimed to have been issued by the United States Federal Trade Commission. โThis deceptive tactic was used to further the fraudulent scheme.โ In compliance with said incentive, the victim allegedly withdrew an amount of USD 130,000 from his bank accounts on different dates during the period from August 30, 2022 to September 9, 2022, and deposited the same in the Bitcoin address provided by the accused,โ the official said.
Shaishav allegedly misappropriated this amount. "Searches were carried out at the premises of the accused in Ahmedabad, which led to the recovery and seizure of cryptocurrencies, namely, Bitcoin, Ethereum, Ripple, USDT, etc. worth $939,000 (approximately) of the cryptocurrencies of the accused, and incriminating material,โ the spokesperson said.
The investigation of the case has revealed the involvement of two individuals, Shaishav's accomplices, both located in Ahmedabad. The CBI conducted searches at their residences, which led to the discovery of several pieces of evidence. Among the items seized were mobile phones, laptops containing incriminating material and various other digital devices. This development sheds more light on the scope of the operation and the network of people associated with the fraudulent activities.
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