Pune: YouTube Channel Owner Allegedly Defrauds Investor of Rs 2.15 Crore, Issues Death Threats Amid Cryptocurrency Scam

Pune:
In a shocking revelation, a major cryptocurrency fraud involving the owner of a popular YouTube channel, BlockAura Classic, has come to light, with investors alleging a scam worth Rs 2.15 crore. The accused reportedly lured victims with promises of triple returns within 15 months on investments in the cryptocurrency “BlockAura” and later issued death threats when investors demanded refunds.
A complaint was filed at Hadapsar police station by Vinod Kumar Shekharan Vaniyer (30), a resident of Fursungi, against Isak Bagwan from Sangli, BlockAura founder Ismail, Dastagir Patel, Jahangir Khan, Zishan Riaz Heblikar, and Ravi Nile, the YouTube channel’s owner. According to the police report, the fraudulent scheme had been active since January 18, 2022, and operated from the “Earning Art” office in Bhekrainagar, Fursungi.
Police revealed that Bagwan, a core group member, along with his accomplice Nile, launched BlockAura, enticing potential investors with exaggerated returns. The cryptocurrency’s initial price was set at Rs 50 per unit, with a 1% daily return and a total of threefold returns within 15 months promised to investors. To further incentivise recruitment, a 5% direct commission was offered for bringing in additional investors. The plaintiff, Vaniyer, fell victim to these tempting promises, investing Rs 40 lakh. However, he only received Rs 28 lakh on his investment.
In a turn of events, the scammers reportedly reinvested Vaniyer’s refunded Rs 28 lakh using newly created user IDs in his name, effectively locking the funds back into the scheme. Friends and family members of Vaniyer, swayed by the grand promises, collectively invested a further Rs 2.15 crore into BlockAura. Despite the notarised agreements between the plaintiff and the accused, the accused failed to fulfil their monetary obligations. The scam allegedly escalated when, upon demanding his due funds, Vaniyer was met with death threats from the accused.
Assistant Police Inspector Jadhav is currently leading the investigation into this fraud.