Father-son duo arrested for cryptocurrency investment scam, CCB seizes computers and mobiles

NT Correspondent

Bengaluru: A father-son duo have been arrested for promising high returns in cryptocurrency investment to people and cheating them.

They have been arrested by the Central Crime Branch (CCB) and six computers, two laptops and four mobiles have been seized. Satish and his son Srikanth duped individuals by promising to double their money through Bitcoin investments.

Satish, a shareholder in Pancha Aishwarya Cooperative Society, convinced various societies in Gandhi Bazaar, Avenue Road, Balepet, and Basavanagudi to invest with the same false promise.

In a similar scheme in 2021-22, they defrauded people by offering a GG gaming app, taking Rs 10,000 each and guaranteeing returns of Rs 45,000 per month.

The CCB police initiated action in response to complaints from victims of their scams, and a thorough investigation is ongoing.