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Pinjore residents lose ₹3-L in crypto fraud | Report Scams

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activeCrypto / Investment FraudPunjab

Pinjore residents lose ₹3-L in crypto fraud

Police registered a First Information Report following allegations that four named individuals and unidentified company members cheated investors through a cryptocurrency investment scheme promising high returns. Complainants stated they were persuaded to invest in a Dubai-based enterprise called Luxurious Pro Network Token.

State

Punjab

First reported

October 2026

Agency involved

Police

Charges or sections cited

BNS Sections 316(2), 317(2), 318(2), 336(2), 338, 340, 351(2), 61, and IT Act Sections 66, 66(C), 66(D), 43

Status

FIR registered

The full story

Everything you need to know about this case, in one place.

According to investigators, the accused promised monthly returns ranging from 3% to 6% and claimed the principal investment would double within 12 to 15 months. The complainants reported investing funds through cheques and other payments between 2021 and 2022. While initial dividends were paid, payments reportedly stopped entirely by February 2025.

Authorities have registered the case against four named suspects residing in Kalka, along with unidentified representatives of the company. The legal action involves multiple provisions related to cheating, criminal breach of trust, forgery, criminal intimidation, and IT Act violations.

Not yet reported: The articles do not specify the total cumulative financial loss suffered by all victims beyond the initial ₹3 lakh mentioned by the complainants.

Where the case stands

The latest position in the reports we read.

An FIR has been registered by the police, and an investigation into the alleged cryptocurrency fraud is underway.

Who was affected

Described in general terms; we do not name victims.

Residents from Karanpur village and surrounding areas who invested their savings into the fraudulent crypto scheme.

Timeline

Key dates as reported, oldest first.

2021 to 2022Complainants invested money, including a specific amount paid by cheque, into the cryptocurrency scheme.

February 2025The accused allegedly stopped making dividend payments to the investors.

MondayPolice registered an FIR against the accused individuals and unidentified company members.

How the scam worked

The method described in the reports.

Victims were introduced to a cryptocurrency investment scheme by an individual claiming to be a core member of the company.
The perpetrators promised exceptionally high monthly returns of 3% to 6%.
Investors were lured with assurances that their invested money would double within a period of 12 to 15 months.
Initial dividends were paid out to gain trust and encourage further investments.
Payouts were abruptly halted, and investors were left without returns.

Targeted by something similar?

Call 1930 (free, 24x7) straight away, then file at cybercrime.gov.in. Money reported in the first hours is far easier to freeze.

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Keep reading

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

hindustantimes.comOriginal report Hindustan Times<![CDATA[https://www.hindustantimes.com/cities/chandigarh-news/pinjore-residents-lose-3-l-in-crypto-fraud-101791902805639.html]]>Pinjore residents lose ₹3-L in crypto fraud | Hindustan Times - Hindustan TimesHindustan Times · 13 Oct 2026

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