Insurance consultant loses Rs 71 lakh in cryptocurrency investment fraud
Thane (PTI): A 42-year-old insurance consultant from Mumbra in Thane district of Maharashtra was allegedly cheated of more than Rs 71 lakh by cyber fraudsters who lured him into investing in cryptocurrency trading, police said on Tuesday.
A case was registered against six persons at Mumbra police station under relevant sections of the Bharatiya Nyay Sanhita on charges of cheating and breach of trust. Nobody has been arrested to date.
The complainant, a resident of Kausa in Mumbra, alleged that the accused induced him to invest money in a firm, purportedly associated with a cryptocurrency platform, between August 2025 and March 2026.
He transferred Rs 71,60,015 through cash and online transactions at different times. However, the accused failed to return the invested amount and instead misappropriated the funds, a police official said.
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Govt will bring new laws with stringent measures to prevent illegal sale of liquor: K'taka Minister
Bengaluru (PTI): Karnataka Excise Minister R B Timmapur on Tuesday told the Assembly that the state government will bring in new laws with stringent measures aimed at preventing illegal sales of liquor.
Pitching for stricter action against persons involved in selling Chloral hydrate powder, which is used to make illicit liquor, he said efforts are being made to bring it under the Narcotic Drugs and Psychotropic Substances (NDPS) Act.
"For 60-65 years no new laws have been brought in. Because the punishments are not stringent such illegal and criminal activities are happening. Measures are being taken to bring in new laws under a committee headed by retired IAS officer K P Krishnan. We will bring in strict actions under them," Timmapur said.
He was replying to Raichur Rural Congress MLA Basanagouda Daddal during the Question Hour.
Stating that efforts are underway by the Excise and Police departments to control illegal liquor sales and register cases, he said, "Chloral hydrate powder is dangerous for humans, it is brought in small packets to make large quantities of illegal liquor from neighbouring Andhra."
He said that Chloral hydrate powder is not covered by the NDPS Act, adding that it should be brought under it.
The state government will be sending a recommendation to the Centre in this regard.
"If things don't happen, we will bring in a new law and take strict measures," he added.
