Crypto currency fraud: Tirunelveli City Police arrest three within 24 hours

Perumalpuram police here have arrested three persons who allegedly duped a crypto currency trader of ₹75 lakh and recovered the money within 24 hours of registering a complaint.
In a statement, Tirunelveli City Police said S. Antony Selvan, 40, a web designer and online crypto currency trader from Rajarajeswari Nagar, filed a complaint with them on Monday stating that he was deprived of crypto currency worth ₹75 lakh during an online transaction.
According to the complainant, he was approached by one L. Mohammed Riaz, 36, of Madurai, along with his associates A. Ayyadurai, 37, of Tenkasi and P. Esakkimuthu, 28, of Kayathar, who posing as forex traders told him that they were in need of USD Tether crypto currency. Antony Selvan transferred 82,691 USD Tether, worth ₹75 lakh, to Riaz’s electronic wallet.
Later, Mr. Selvan found that he had received colour photocopy currencies in exchange and filed a complaint with Perumalpuram police.
Tirunelveli Commissioner of Police Santosh Hadimani formed a special team to nab the suspects.
The investigators conducted a rapid operation in Dindigul, Palani and Palakkad. Within 24 hours, they apprehended the trio and recovered 82,691 USD Tethers from Riaz’s electronic wallet.
The recovered assets would be presented as evidence in the court, the statement said.