MUMBAI : Two directors of a Bitcoin trading company in Navi Mumbai are facing allegations of defrauding investors to the tune of Rs 39 lakhs. The Navi Mumbai police have swiftly taken action, registering an offense against the accused individuals, Uday Thakur and Bharat Mhatre, under Section 420 (cheating) of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) (MPID) Act. The fraudulent activities took place over six months, with promises of substantial returns that ultimately proved false. An investigation is now underway.
