MULTILEVEL MARKETING CHEATING BY CRYPT O CURRENCY/BIT COIN-Sri.Anjani Kumar,IPS,CP Hyd

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On 24-08-2018, the sleuths of Commissioner’s Task Force, North Zone team along with Police Bowenpally PS conducted raid on the office of GRM ESTATES PVT LTD, situated at Plot no. 31, Road no.4, Mallikarjuna Colony, Old Bowenpally, Secunderabad for organizing Fake Coinx Trading (Crypto Currency/ Bit Coin) in an organizing manner on the guise of Multi Level Marketing scheme and nabbed (5) fraudsters namely 1)Gardas Ramesh (Main organizer), 2)Sudagoni Sathaiah (Sub-Organizer), 3)Namalla Venkatesh (Sub-Organizer), 4)Kunchala Hari Gopal (Sub-Organizer) & 5)Chandupatla Srinivas (Sub-Organizer), wherein the main accused Gardas Ramesh hatched a plan to gain illegal easy money started Multi level marketing business on the name of Coinx Trade (Crypto Currency/Bit Coin) and luring gullible public with a promise of making them rich within short period & high returns, encourage them to invest money in Coinx Trading which is organizing from USA & UK through online. In this Money circulation scheme to develop his business appointed (4)Main Sub-Organizers and cheated huge amount from several victims. Seized material all worth about Rs. 1 Crore 80 Lakhs

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