<p>A multi-crore Ponzi scheme with links to the cryptocurrency trading has been busted in Bengaluru.</p>.<p>Acting on public complaints, the Central Crime Branch (CCB) arrested the director of a company accused of cheating more than 2,000 people.</p>.<p>The CCB said Ranganath D S ran a website named digitechmark.live through an unregistered company. The website promised high returns on investments and collected thousands of crores of rupees, said Bolettin M S, the inspector of the CCB's Economic Offences Wing, which nabbed Ranganath.</p>.<p>According to the CCB, Ranganath and his associates advertised about the company on social media, contacted people on WhatsApp, YouTube and held meetings on Zoom.</p>.<p><strong>'Guaranteed returns'</strong></p>.<p>People who invested Rs 15,000 were promised Rs 1 lakh by December 2021 and Rs 25 lakh by 2025. Investors who put in Rs 50,000 were guaranteed Rs 3 lakh by the end of this year and Rs 2 crore by 2025. Those who deposited Rs 1 lakh were assured Rs 7 lakh by December and Rs 3 crore by 2025, the CCB said.</p>.<p>The lofty promises worked, and more than 2,000 people signed up for the company's investment schemes. Each investor was given a user name and password, and urged to recruit more investors, the CCB explained.</p>.<p>Each referral was rewarded with a commission and a bonus. It was essentially a pyramid scheme.</p>.<p>The investors' money was routed to a bank account from where it was later used to buy and sell Torn, a cryptocurrency, on an exchange.</p>.<p>The CCB said it was in the process of seizing the money.</p>
<p>A multi-crore Ponzi scheme with links to the cryptocurrency trading has been busted in Bengaluru.</p>.<p>Acting on public complaints, the Central Crime Branch (CCB) arrested the director of a company accused of cheating more than 2,000 people.</p>.<p>The CCB said Ranganath D S ran a website named digitechmark.live through an unregistered company. The website promised high returns on investments and collected thousands of crores of rupees, said Bolettin M S, the inspector of the CCB's Economic Offences Wing, which nabbed Ranganath.</p>.<p>According to the CCB, Ranganath and his associates advertised about the company on social media, contacted people on WhatsApp, YouTube and held meetings on Zoom.</p>.<p><strong>'Guaranteed returns'</strong></p>.<p>People who invested Rs 15,000 were promised Rs 1 lakh by December 2021 and Rs 25 lakh by 2025. Investors who put in Rs 50,000 were guaranteed Rs 3 lakh by the end of this year and Rs 2 crore by 2025. Those who deposited Rs 1 lakh were assured Rs 7 lakh by December and Rs 3 crore by 2025, the CCB said.</p>.<p>The lofty promises worked, and more than 2,000 people signed up for the company's investment schemes. Each investor was given a user name and password, and urged to recruit more investors, the CCB explained.</p>.<p>Each referral was rewarded with a commission and a bonus. It was essentially a pyramid scheme.</p>.<p>The investors' money was routed to a bank account from where it was later used to buy and sell Torn, a cryptocurrency, on an exchange.</p>.<p>The CCB said it was in the process of seizing the money.</p>