Mastermind Behind India's $24 Million Crypto Fraud Flees Country
The mastermind behind a massive $24 million crypto fraud scheme in India has managed to evade Indian security agencies and escape from the country.
The criminal, identified as Subhash Sharma, fled the nation just as authorities were closing in on him, authorities confirmed to local media.
Subhash Sharma, the alleged architect of this massive crypto scam that affected thousands of investors across Himachal Pradesh and other northern-western states of India, had been the target of an intensive investigation by a Special Investigation Team (SIT).
The scale of crypto fraud was first brought to light by independent legislator Hoshyar Singh in the state assembly of Himachal Pradesh, estimating the amount to be over $24 million (Rs 200 crore).
As reported earlier, India is currently witnessing a massive rise in crypto frauds, leaving victims in a legal abyss without any regulations or procedures in place to investigate such crimes.
Sources within the SIT revealed that Subhash Sharma was suspected to have fled to Dubai, but his exact location abroad remains unknown.
Law enforcement agencies are now intensifying efforts to locate him, and there are discussions about involving Interpol and central agencies to issue a Red Corner Notice for his extradition to India.
This audacious crypto scam had come to light when investors began reporting substantial losses after being lured by promises of high returns and exaggerated claims associated with a fake cryptocurrency called "Korvio Coin."
Sharma and his associates were accused of manipulating cryptocurrency prices to their advantage, causing significant financial harm to unsuspecting investors.
When suspicious around “Korvio Coin” started to begin, the suspects introduced new
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