A Raja dies by suicide in Dindigul over crypto scam
A 25-year-old man, A Raja, allegedly died by suicide in Dindigul, Tamil Nadu, after investors pressured him to return money from a suspected crypto and multi-level marketing scam.
The scheme promised quick double returns through FQL Investment Trading, the FQL Exchange App, and VG Investment Group Syndicate, but things unraveled when people lost access to their funds.
Economic Offenses Wing probes 25cr disappearance
The fraudsters took money via cash and digital payments, then converted some into Tether (USDT) and moved it to linked wallets.
With at least ₹25 crore gone missing, police have frozen 13 bank accounts and filed six cases across Tamil Nadu.
So far, 21 suspects, including an alleged U.S.-returned promoter, have been arrested.
The investigation has now shifted to the Economic Offences Wing because of its scale and possible international ties.
This case highlights how risky crypto scams can be for young investors in India.