HP cryptocurrency scam: SIT to seek warrant to bring fugitive kingpin

New Delhi: The special investigation team (SIT) probing the Rs 2,500-crore cryptocurrency scam would approach the competent court on November 28 to seek a warrant for the extradition of fugitive kingpin Subhash Sharma from UAE, officials said on Saturday.

“The kingpin of the scam Subhash Sharma from Sarkaghat in Himachal Pradesh’s Mandi district is still at large and as per our information, he is hiding in UAE. Efforts are underway to bring him back,” DIG who is heading the SIT, said.

The multi-crore cryptocurrency ponzi scam started in 2018.

The investors smelled something fishy when they stopped getting returns during the Covid pandemic when most business activities came to a halt. Later when they asked the accused about their pending returns, they realised they had fallen into a trap and were threatened to keep shut, the police said.

The fraudsters threatened the victims that they would lose all their invested money if they reported the matter to the

police.