Crypto-Related Scam Targets Muslims with Halal Investment Offerings in India

Central Crime Branch of Bangalore (CCB), a law enforcement agency for India’s Karnataka state, has taken into custody a local politician, Gali Janardhana Reddy, for his alleged attempts to cover-up a large cryptocurrency scam run by investment company Ambidant Constructions, local media reported on Monday. The crypto Ponzi scheme, which had targeted Muslims with Halal investment offerings, dates back to January 2018 but was revealed last week after the police took action against Reddy.

In January this year, India’s central law enforcement agency, the Enforcement Directorate (ED), raided the office of Ambidant Constructions, a company owned by Syed Ahmed Fareed and his son Syed Ahmed Afaq. The men offered Halal investments with …

This article appeared first on Cryptovest

Like this: Like Loading...