Cryptocurrency Worth $930,000 Seized by CBI From Ahmedabad-Based Man Who Allegedly Defrauded US Citizen

CBI filed an FIR against Ramavat Shaishav, who allegedly contacted a US citizen over the phone, impersonating an Amazon employee.

The CBI has seized cryptocurrency worth more than $930,000 (around Rs 7.7 crore) from an Ahmedabad-based man who allegedly cheated a US-citizen posing as a senior executive of a multi-national company's fraud department, officials said. Based on inputs from the Federal Bureau of Investigation (FBI) of the United States, the CBI filed an FIR against Ramavat Shaishav, who allegedly contacted the US citizen over the phone and introduced himself as "James Carlson" from the fraud department of Amazon, they said.

During searches, the CBI found 28 Bitcoin, 55 Ethereum, 25,572 Ripple and 77 USDT in Shaishav's e-wallet. These were transferred to the government's wallet at the time of the seizure, the officials said. He allegedly convinced the victim that his account on Amazon was being accessed by unscrupulous elements, and that his social security was being used from four different states to open accounts on the e-commerce platform. "It was also alleged that the accused induced the victim to withdraw cash from his bank accounts and deposit the same in Bitcoin in the RockitCoin ATM Wallet, and also shared a QR code falsely informing him (the victim) that the same was opened by the US Treasury for him," the Central Bureau of Investigation's (CBI) spokesperson said.

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