Hyderabad: Today, sleuths of Commissioner’s Task Force, North Zone team along with Bowenpally Police raided the office of GRM Estates Pvt Ltd, at Mallikarjuna Colony in 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 arrested five fraudsters identified as Gardas Ramesh, Sudagoni Sathaiah, Namalla Venkatesh, Kunchala Hari Gopal and Chandupatla Srinivas and seized materials worth Rs 1.8 crore.
Police said the principal accused Gardas Ramesh started Multi level marketing business in the name of Coinx Trade (Crypto Currency/Bit Coin) and lured public with a promise of making them rich and encourage them to invest money in Coinx Trading which was being organized from the USA & the UK through online. He also appointed four Main Sub-Organizers and collected huge amounts from several victims. (NSS)
