Ludhiana industrialist Jagdeep Singhal loses ₹20cr in Facebook crypto scam
India
A Ludhiana industrialist, Jagdeep Singhal, lost nearly ₹20 crore after falling for a cryptocurrency scam that started with a Facebook message from someone posing as an investment advisor.
What began as a small ₹1 lakh investment quickly spiraled, with scammers showing fake profits and demanding more money every time he tried to withdraw.
Police register FIR over 76 accounts
The fraudsters used around 76 different bank accounts and several international phone numbers (including WhatsApp) to keep things hidden.
Police have registered an FIR under cybercrime laws and are now tracking down the suspects, hoping to untangle this complex web of local and international fraud.