MBA Career Journey: Unveiling the Dark Side of Bitcoin Scams in Mumbai

Last Updated on August 20, 2023 by Robert C. Hoopes

30-Year-Old MBA Graduate Arrested for Involvement in Financial Fraud Case

In a shocking turn of events, a 30-year-old MBA graduate has been arrested by VB Nagar police for his alleged involvement in a financial fraud case. The accused, hailing from a well-off family, resorted to Bitcoin trading as a source of income after months of unemployment.

The case came to light when a resident of Kurla received an unsolicited message offering a part-time job. Instructed to provide personal and banking details to a Telegram account named “@maria1520”, the victim soon found himself entangled in a scam. Lured by promised returns, he transferred a staggering amount of Rs 10.66 lakh to various accounts.

Thanks to swift investigative work, the police were able to trace the money trail to an account in Panvel. Following this lead, they apprehended the account owner who, in turn, revealed that a person named Ganesh had deposited the sum. Acting swiftly, the police arrested 30-year-old Tarun Kesarwani, also known as Ganesh, on August 12. Subsequent questioning unveiled his deep involvement in the crime.

During interrogation, Tarun admitted to working as a USDT commission exchanger and being involved in Bitcoin transactions. However, he claimed to be unaware that the money he dealt with was illegally obtained, earning him a commission in the process.

In a startling twist, the investigation has uncovered evidence linking the fraud handlers to the United Arab Emirates (UAE). Furthermore, the authorities have identified twelve bank accounts through which the ill-gotten money flowed, with Tarun being responsible for converting it into USDT.

The police are now in the process of determining whether there are other individuals involved in this widespread fraud. As the investigation continues, Tarun will remain in police custody until August 18.

This unfortunate incident serves as a stark reminder of the ever-increasing prevalence of online scams. It highlights the need for individuals to remain vigilant and cautious when engaging in financial transactions, particularly in the virtual space. As technology advances, so too do the techniques used by fraudsters, making it imperative for everyone to exercise caution and diligence to protect their hard-earned money.