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SIT to probe Bitcoin frauds in Maharashtra

Press Trust of India  |  Nagpur 

A special investigation team (SIT) will be set up to probe cases of investment fraud, the announced in the Legislative Council today.

of State (Finance) said the SIT would be headed by the Additional Director General,

He was replying to a calling-attention motion by Hemant Takle, Amarsingh Pandit, and of Opposition Dhananjay Munde.

The opposition legislators raised the issue of alleged cheating to the tune of Rs 30-40 crore of investors in Kolhapur and Sangli by Xipcoin Kripto, a crypto firm.

The said that an SIT will be formed to probe this and other cases involving cheating of investors.

If needed, police will seek the Enforcement Directorate's help, he said.

The also said that an awareness campaign was needed so that people did not fall prey to such scams.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 21:00 IST