Father-son duo arrested for cheating with promise of high crypto returns

BENGALURU: The Central Crime Branch (CCB) police have arrested a father-son duo for cheating unsuspecting people by promising high returns in cryptocurrency investments. The police have also seized six computers, two laptops and four mobile phones from them.

Satish and his son Srikanth would convince people that their money could be doubled by investing in Bitcoins. Satish, who is a shareholder in Pancha Aishwarya Cooperative Society, had convinced other societies in Gandhi Bazaar, Avenue Road, Balepet and Basavanagudi of doubling their money and defrauded them.

In 2021-22, they had cheated people by assuring them of launching a GG gaming app and had taken investments of Rs 10,000 each, promising them Rs 45,000 per month.

The CCB police action followed complaints lodged by those who had lost money to the duo. Further investigation is under way.