INDIA. Mumbai: The Central Bureau of Investigation (CBI) has initiated a case against an Indian national accused of defrauding a US citizen by convincing them to deposit $1,30,000 into a cryptocurrency wallet, under the false pretense of protecting them from fraudsters.
The victim was “misguided” into transferring USD 1,30,000 to the accused’s bitcoin address after withdrawing the amount from their bank over an 11-day period, spanning from August 30, 2022, to September 09, 2022.
The accused reportedly sent a fictitious letter, dated September 20, 2022, which purported to be issued by the US Federal Trade Commission, in a calculated effort to win the victim’s trust.
The accused, identified as Ramavat Shaishav, adopted the persona of “James Carlson,” supposedly employed in the fraud department of Amazon.
He employed a ruse to raise alarm about the victim’s Social Security Number being targeted by fraudsters, as stated in a CBI statement released on Saturday.
Presently, the accused remains at large. In response to intelligence shared by the Federal Bureau of Investigation (FBI), the CBI conducted raids on the premises of the accused and two of his associates in Ahmedabad, Gujarat.
These operations led to the seizure of cryptocurrencies valued at $9,30,000, along with mobile phones and laptops containing incriminating evidence.
Among the seized digital assets were 28 Bitcoin, 55 Ethereum, 25,572 Ripple, and 77 USDT, all found in Shaishav’s e-wallet. These assets were subsequently transferred to the government’s wallet at the time of confiscation, according to officials.
Furthermore, the accused led the victim to believe that individuals from four different US states had exploited the victim’s Social Security Number to open Amazon accounts.
He manipulated the victim into withdrawing cash from their bank accounts and depositing it into Bitcoin via a RockitCoin ATM Wallet. The accused shared a QR code, falsely asserting that it had been created by the US Treasury for the victim’s protection.
In the United States, citizens, permanent residents, and eligible non-immigrant workers are assigned a 9-digit Social Security Number.
This number is employed for various purposes, including reporting wages to the government, tracking social security benefits, and serving as a means of identification.
The CBI’s swift and decisive action in this case underscores the commitment to safeguarding individuals from deceptive practices and fraudulent schemes that exploit digital currency. The investigation is ongoing, with efforts focused on locating and apprehending the accused and his accomplices.
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