The Enforcement Directorate (ED) has arrested accused businessman Abdul Ghafoor from Kerala for duping people by luring them with three to five per cent returns per day by investing in cryptocurrencies. Gafoor was sent to ED custody till March 31 by the court. In this case, about 1200 crore rupees were cheated from 900 investors.
The ED told the court that the accused Gafoor is giving wrong information during the interrogation. He was a director at StocksGlobal Brokers involved in the scam. He took an active role in making it happen. He was kept under house arrest since March 24.
The matter came to light from a case registered by the Malappuram Police of Kerala. The main accused Nishad had admitted that he, Gafoor and other accused had duped hundreds of investors through Ponzi schemes and multi-level marketing.