New Delhi: The special investigation team (SIT) probing the Rs 2,500-crore cryptocurrency scam will approach the competent court on November 28 to seek an extradition order of fugitive kingpin Subhash Sharma from the United Arab Emirates, officials said Saturday.
โThe kingpin of the scam, Subhash Sharma, from Sarkaghat in Mandi district of Himachal Pradesh, is still at large and, according to our information, is hiding in the United Arab Emirates. Efforts are being made to bring him back,โ said the DIG, who heads the SIT.
The multi-crore cryptocurrency ponzi scam started in 2018.
Investors smelled something fishy when they stopped earning returns during the Covid pandemic, when most trading activities ground to a halt. Later, when they questioned the defendants about their pending returns, they realized they had fallen into a trap and were threatened with being kept locked up, police said.
The scammers threatened the victims with losing all the money invested if they reported the matter to the police.
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