The Central Crime Branch (CCB) of the Karnataka police Tuesday confirmed the arrest of a 39-year-old man for allegedly cheating over 2,000 investors in a multi-crore cryptocurrency Ponzi scheme.

According to officers from the Economic Offence Wing, the trading and chain-link scheme was operated after the accused, identified as Ranganath D S, launched an online company last year promising high returns to investors.

“The CCB has arrested the director of a company accused of cheating more than 2,000 people. The accused operated a website named Digitechmark through an unregistered company,” City Police Commissioner Kamal Pant said. “The website promised high returns on investments and collected thousands of crores of rupees. The investors’ money was routed to a bank account from where it was later used to buy and sell Tron, a cryptocurrency, on an exchange,” he added.

After a preliminary probe into the matter, CCB sleuths explained…

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