Arrest Made in ₹1.10 Crore Cryptocurrency Fraud Case

On April 25, 2024, at 05:18 AM IST, the cybercrime sleuths successfully apprehended the mastermind behind a cryptocurrency scam that defrauded investors of ₹1.10 crores. The accused, known as Santosh Thorat, had attempted to secure anticipatory bail from the high court to avoid arrest. However, his plea was denied, leading to his immediate apprehension by the city police.

Thorat and his associates lured investors with the promise of a 20% annual return on investments in a cryptocurrency called Sonitex. Subsequently, a case was filed against him under sections 409 and 420 of the Indian Penal Code, along with sections 3 and 4 of the MPID Act 1999.

Initially granted anticipatory bail on the condition of depositing ₹43.96 lakh as the initial installment, Thorat failed to comply and resorted to changing his contact details and place of residence to evade law enforcement.

Following a thorough technical investigation by the cybercrime unit, Thorat was apprehended in Kharadi on April 23. He was presented before the District and Sessions Judge Court, which ordered his custody until April 29 for further interrogation. The investigating officer emphasized the necessity of custodial interrogation to uncover the involvement of other accomplices in the cryptocurrency scam.

Moreover, the investigators expressed the intention to seize inculpatory evidence and documents from Thorat’s possession to facilitate a comprehensive probe. Two mobile phones were confiscated from him, and a search of his office was conducted to secure additional evidence related to the case.

The arrest serves as a significant development in the ongoing investigation into the ₹1.10 crore cryptocurrency fraud case, shedding light on the intricate web of deception orchestrated by the accused and his associates.